Talking Heads say Oil headed to $60: DIG DUG

CNNMoney says this crap: With experts predicting a global economic slowdown oil prices could fall to $60 a barrel, or lower.  So what's your play?  Short DIG and Long DUG.  The UltraShort Oil & Gas ProShares (AMEX:DUG) is up 64% this week alone!

In a new report Friday, Deutsche Bank uses a number of interesting yard sticks to suggest crude is currently way too expensive and may fall to the $60 a barrel range as the economy worsens.  Here's the link to the CNN story.

Forget the bad times, had we not had our head in the sand this week crying about losing money we would have noticed this sooner, but that's the nature of the game. 

Poetic Justice to Exxon Mobile (XOM) after they raked in record profits this past year, their stock is tanking along with everyone else, and there's still time for their stocks to keep falling and for us to make money on their pain.

The Masters were on the money, big time when we told you way back in June - DIG DUG: Oil Game Over, the DUG is up over 138% since June 2008 and almost 100% YTD.

Ultra Oil & Gas ProShares  (Public, AMEX:DIG) - Short this guy.  This ETF profits when the big oil companies stock does well.  Its largest 10 largest holdings are:

UltraShort Oil & Gas ProShares  (Public, AMEX:DUG) - Long this puppy. ProShares seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Oil & Gas Index^SM.  What are the companies in that Index?  A ton, but the biggest holdings can be found in this link