Boone Pickens got on CNBC this morning and let everyone know that he was shorting oil and natural gas. Considering that he's been one of the leading energy bulls for a long time now, I'm inclined to believe him (especially when he puts his money where his mouth is).
Oil isn't reacting all that horribly considering its been up so strongly the past few days. The action so far looks more like profit taking than a complete change in attitude. Right now its off just about a dollar (USO at 78.30ish). I'm waiting for more of a signal before recommending selling the second half of USO.
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