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Thursday, April 13, 2006

April 13 - I'm not going to short oil! (OXY EPL)

Cramer is talking about oil tonight. His first stock was OXY Occidental Petroleum Corp.

Closing Price: $96.31
After Hours Price: $97.75

I'm not going to touch this one with a short with a 40 foot poll! As I have mentioned in the past, shorting stocks that are based on commodity prices such as oil is not a good idea because anything can happen to the underlying commodity at any time. And to make this even worse, a long weekend! Anything can happen over a weekend with oil.

His second oil stock was EPL Energy Partners Ltd.

Closing Price: $24.35
After Hours High: $26.78
Percent Increase at High: 10%

Once again, don't want to touch this, even though it went up 2 bucks, not to mention it trades on the AMEX and I can't short after hours. Its funny to watch the price movement as words come out of Cramer's mouth. He said something about this being one of the best picks and the price shot up .20 cents just like that. This probably has some short potential since it keeps rising in price, but it would be insane to do so before the long weekend. Something to take a look at next week.

Comments on "April 13 - I'm not going to short oil! (OXY EPL)"

 

Blogger CramerTracker said ... (April 17, 2006 9:37 PM) : 

Good to hear you got out safely. Hopefully people stayed away from OXY...I don't think there was any chance to get out today without a loss.

 

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