Profiting on crude spike.(Market Strategy)

During this past winter I happened to be in my doctor's waiting room staring at CNBC on the television. One of the nurse's stopped at the TV and uttered an expletive as the current crude price was flashed. I asked her what she was upset about, thinking she would be happy crude was in a winter washout mode. Unfortunately for her she was, as she put it, "long oil, isn't everyone?" With the increasing amount of long-only funds now participating in commodities, she is probably correct. However, my memory quickly flashes to the late 1990s stock craze when everyone was on board the equities party train.

Are crude oil prices susceptible to a super spike that could take out last year's …