Crude Oil (1999)

In early March, 1999 when crude oil was trading at $12 a barrel we posted on the Bradley Cowan Internet Discussion Group that the next hot futures market would be crude oil. We posted that we had just opened related long positions and gave the price that we bought. The fundamentalists thought that we were crazy because there was a world wide oil glut and no relief in sight. SIX MONTHS LATER OUR ORIGINAL MARGIN HAD MULTIPLIED 10 TIMES AND OUR PROFITS EXCEEDED ONE MILLION DOLLARS!
 

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