14/1/09 – Seems to me that the oil price is low, and while it could go still lower, on balance of probability will head up some time in the future.  I have purchased 50 shares in this ETF for $20.91 each with the plan of holding for some time, and then taking profits if and when oil decides to start rising again.

21/1/09 – Price has fallen further!  I have decided to buy another 50 shares, this time for a price of $18.92 which gives me an average price for all 100 shares of $19.92 each.

8/5/09 – I put a trailing stop on this position this week, and last night it was triggered – taking me out at a price of $20.41 which gives me a profit (net of commissions) of $34.50 or 1.7% on the total $1992 that I had at risk.  Not too bad!….