Thursday, February 21, 2008

T. Boone Pickens Short Oil, Natural Gas

Legendary oil investor T. Boone Pickens told CNBC this morning that he is short oil and natural gas. He believes that oil will have a short term pullback.

I was surprised by this - Pickens has been (correctly) calling higher oil prices for quite some time. I'm glad I'm not long oil or nat gas right now - because I wouldn't want to be on the other side of this trade!

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