$Crude Oil Futures (JUL6) (CLmain.US)$ I have regretted many times for missing out on crude oil at $5. I made a small profit and exited quickly for fear of getting stuck. Now at the price of $120, it's impossible to say there is no premium. Much of this is due to political and military factors. If you tell me to chase the upward trend, first, I don't have that ability—I'm afraid of heights. Second, I want to patiently wait for a pullback, even if it takes a month. After all, this has relatively high certainty. Right now, Buffett’s large investment in oil and gas stocks makes me feel quite uneasy. Maybe my thinking is wrong, but I've already been caught with some losses, with a cost basis of $117. Liquidation would occur at $130; if it reaches $125, I still want to consider adding margin. Let’s do this trade just once a year—there’s rarely such a good premium opportunity. If I lose, I lose.