I
wore out the grooves on Judy's 'Living' album playing this track back in the
Seventies (when it was titled 'Song for Judith'). Forty years on, and she
performs it like she just wrote it!
Picked up some UWTI again at $24.8. I'm thinking FCX / CHK are rallying in advance of an oil rebound and the selloffs in the airlines has more to do with this than anything related to capacity / recession fears
Lots of other oil stocks on my screen are green today. That might be explained, however, simply by the fact that many were red yesterday, when oil was green...
HLX has been good to me recently, and it's recent earnings announcement shows that it is moving in the right direction. So I decided to reload just now at 7.63 about 75% of the shares that were sold today when my sell limit at 8 was hit. Will add more if oil keeps going down.
Placed a sell limit at 8.63 for these HLX shares. Also, so as to stagger my sell limits a bit, lowered my other sell limit to 8.3 (for the shares I reloaded at 7.3 after selling out of all my HLX during its initial rally to 9).
Doubled up on UWTI at $23.9. Let's see if this thing can rally again off this level. People have been buying it down here but it needs to pick up soon.
Mike, if you like the thesis of oil going up, then take a look at the 6 month chart of BTE. Don't you get a feeling that an explosive move up to new post-Feb highs should occur soon, after the recent disheartening multi-day decline? I increased the size of my but stop limit on BTE at moved the limit higher to $5.7, so that I will still be able to get some if a large gap up takes place.
Yeah looks good. But oil is a laggard in general and the market can move higher without oil continuing. In general I'd rather buy the stronger companies on pullbacks.
haha. funny huh? I'm anticipating a reversal here soon in oil but it looks like i'll get stopped out. my thinking was oil has significantly underperformed the performance of oil stocks so there would be a catchup. Not looking good.
Today seems to be another down day for oil during which the oil stocks (say XOP) are flat. My largest single oil position, NDP, is actually up today. So I think it IS worthwhile to buy something oil related now, which you can hold for 6 months and which you can expect to rise above today's level whenever the oil spot price rises above that level. UWTI will obviously not do that -- it will be much lower in 6 months if oil drops below $40 and then rises back to the current level in 6 months. However, BTE might fit the bill, and I just bought a little at $5.18. Placed another buy limit on BTE at $5. A more conservative investor could have been buying something more financially sound than BTE, but then BTE will bring in more money if it goes up for my small position size...
Picked up some UWTI again at $24.8. I'm thinking FCX / CHK are rallying in advance of an oil rebound and the selloffs in the airlines has more to do with this than anything related to capacity / recession fears
ReplyDeleteLots of other oil stocks on my screen are green today. That might be explained, however, simply by the fact that many were red yesterday, when oil was green...
ReplyDeleteHLX has been good to me recently, and it's recent earnings announcement shows that it is moving in the right direction. So I decided to reload just now at 7.63 about 75% of the shares that were sold today when my sell limit at 8 was hit. Will add more if oil keeps going down.
ReplyDeletePlaced a sell limit at 8.63 for these HLX shares. Also, so as to stagger my sell limits a bit, lowered my other sell limit to 8.3 (for the shares I reloaded at 7.3 after selling out of all my HLX during its initial rally to 9).
DeleteDoubled up on UWTI at $23.9. Let's see if this thing can rally again off this level. People have been buying it down here but it needs to pick up soon.
ReplyDeleteI sold my FCX at $12.72.
Mike, if you like the thesis of oil going up, then take a look at the 6 month chart of BTE. Don't you get a feeling that an explosive move up to new post-Feb highs should occur soon, after the recent disheartening multi-day decline? I increased the size of my but stop limit on BTE at moved the limit higher to $5.7, so that I will still be able to get some if a large gap up takes place.
ReplyDeleteYeah looks good. But oil is a laggard in general and the market can move higher without oil continuing. In general I'd rather buy the stronger companies on pullbacks.
DeleteAnd that's why you bought UWTI, which declines both due to contango and oscillations even if the futures curve remains unchanged? :)
Deletehaha. funny huh? I'm anticipating a reversal here soon in oil but it looks like i'll get stopped out. my thinking was oil has significantly underperformed the performance of oil stocks so there would be a catchup. Not looking good.
DeleteToday seems to be another down day for oil during which the oil stocks (say XOP) are flat. My largest single oil position, NDP, is actually up today. So I think it IS worthwhile to buy something oil related now, which you can hold for 6 months and which you can expect to rise above today's level whenever the oil spot price rises above that level. UWTI will obviously not do that -- it will be much lower in 6 months if oil drops below $40 and then rises back to the current level in 6 months. However, BTE might fit the bill, and I just bought a little at $5.18. Placed another buy limit on BTE at $5. A more conservative investor could have been buying something more financially sound than BTE, but then BTE will bring in more money if it goes up for my small position size...
DeleteWas away at a cottage for the week and had no wifi and limited cell coverage, but looks like I didn't miss a whole lot in the broad market.
ReplyDeleteStill haven't caught up on the details yet, but see Trump did get the nomination - will be an interesting election year down there!