Wednesday, February 4, 2009

Goldman Commodities Group Trending Nicely

From the rumor bag:

Goldman commodities group is up already $800 million year to date, and this despite a very range bound oil price of $35-$50 over the past 2 months. Implies either massive leverage on smallish moves, a big contango play (for our musing on this here) or something rather novel... Sphere: Related Content
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erichter said...

I have been trading USO intraday and can tell you this thing is range-bound to no end. It wouldn't surprise me if GS is making money shorting vol and keeping the reference futures contracts range bound.