Trade BTEBought 200K at $0.61, sold this morning at $0.77. Bought another 150K at the close $0.72. Stop loss $0.69, target $0.80.
Oil turned negative and markets were dumped at the close. In the near term, I do see another 10% - 15% BTE run this week. Build reports are coming today and tomorrow (API and EPI), and I do expect Congress and White HOuse to come up with some kind of agreement this week. That should give short term boost to oil and help BTE run a little more. After that, I don't see much upside until Q4. All the best...