Crude oil recently hit $90 a barrel and then retreated, however all the talk in the market is that cost per barrel of crude oil will hit about $100. In light of this I purchased a few weeks ago ETF shares in Horizons BetaPro NYMEX Crude Oil Bull (HOU.TO) when oil was at a price of $84…right now it is trading at $88-89. Few factors at play, we are going into the winter months and there will be a rise in demand next year according to most financial websites.
This is a short term play, I will hold the Horizons BetaPro NYMEX Crude Oil Bull (HOU.TO) ETFs until it looks like the right time to sell and take a profit. My purchase price was $7.08 per ETF share.
by Das Brain
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