RE: RE: RE: 70 vs 75 estimated. a "tiny" good for
I think it's really simple... Supply vs. Demand. If demand went up and supply maintained or dropped, didn't outstrip demand, then we can expect some slow movement up... meaning this is bottomish... doesn't mean we can't revisit on some unexpected news. Bearish sentiment on the news over last few days isn't helping... we would be higher if indicators were bullish.
Numbers were such that I'm waiting until Monday unless I stop out at $5.25 today.
This isn't a hold until at least late August I think. That said, there is a pretty good range established. It's reasonable to buy a core position here and trading shares lower. I sold 5000 shares this morning for a grand profit. Bought them this morning at 5.22 - that's how to play the ETF...
I think you can see 2 - 4 week swings on the price of gas so if you are underwater you could hold for a week or two. If we truly at the bottom then hold for a few months I guess... I can't - lost too much money last year trying to do that.
In Aug we should start to see upward pressure providing the numbers on Supply vs. Demand continue in the right direction and the economy doesn't go stupid cold. JMHO