Oil up

Oil closed up at $46 today, probably mainly due to the conflict in the Gaza strip. More details here.

In the last 5 days DXO has gone from $2.20 to $3.13 -- up over 50%! It just goes to show how much money could be made or lost with this ETN depending on your timing.

It looks like the Palestinian conflict could get worse, meaning oil could climb more. If oil gets above $55, I may sell off half of my DXO. Why? Well, while I still believe oil will go much higher long-term, I had obviously underestimated how much the economic downturn would affect it in the shorter term and how low it could go. If the current price is just being propped up by the recent conflict, it may be prudent to sell off some while it's high in order to be able to buy back in at a lower price. Also, I've got too much of my portfolio weighted in it right now since I kept averaging down as it dropped lower.