He probably recommend to long S&P and stay away from $80 oil. Now with S&P 260 points lower and oild $25 higher he recommends to short S&P and long oil. Typical losing trades. It is true that S&P could lost more but the downside room is small if one does not do day trade. I am not sure about oil but I see 12 months from now S&P is more likely to be higher than lower than it is today.