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THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
(November 25, 1997) ENERGY COMPLEX: Patience is a virtue they say. For all who have waited for the break in price you are rewarded. Heating oil finally dropped to 5500 for December. We see two possible ways to trade heating oil. One would be the purchase of a future for February. The other is a bull call spread in the February options. Most of the bad news is out. We now enter the obvious seasonal upturn. Also anything out of Iraq would be a wild-card.
Stephen Connell and William Frejlich
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