Each Crude Oil Futures Contract Returned $38,000 From 9/11 to October 2004
Crude oil was trading at a low of $17/barrel on the NYMEX in November 2001, weeks after 9/11. In 34 months since then it had made a bull run up to $55/barrel.
(PRWEB) January 1, 2005 -- If one had bought one crude oil futures contract in November 2001, right after 9/11, and held until October 2004, just before this past election, one would have realized a profit of over $38,000. But with margin requirements of only $3500 per contract, one would have invested only $3500 for each contract. An unbelievable return of 1000% in 34 months. In "Crude Bedfellows", a new book by Sean Hewitt, the author uses his own commodities trading background to suggest that a bull market in crude oil was set-up by the most powerful people in the oil world.
Intertwining politics, crude oil futures trading, money management techniques in futures trading and the war on terror, what may seem obvious turns out not to be so. And what seems impossible turns out to be completely plausible. Sean Hewitt has two decades of trading experience in the commodities futures markets and he uses that knowledge very subtly to contend that the big move is usually over by the time the public catches on.
"Crude Bedfellows" is available via all online retailers like Amazon, BarnesandNoble.com, BookaMillion.com, etc. Chapter One excerpts are available at http://www.CrudeBedfellows.com.
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