Post by
valmeidan on Apr 23, 2020 9:57am
Technicals checking in :)
So Macd on this is still showing a drop to finish, however past few days I have also seen 1.60 touch and then go back up. Is this the new bottom for now? I feel that being in at this point over the next few weeks is safe, but these ETF's do not follow alot of logic and in this case OIL for now.
Comment by
Mat1791 on Apr 23, 2020 10:12am
Safe until the premium resets to the NAV. Which none of us have any clue how that will happen. I'm on hold right now and will ask that exact question to share with the board.
Comment by
itharami on Apr 23, 2020 10:14am
It gapped up today so that should be a good sign in TA books, no? As for NAV and SP, did anybody ask Horizon when they called them? I'm gessing NAV will "catch up" to SP. How is NAV calculated at this point? I guess that's the more important question. We see a trend up in NAV in last two days.
Comment by
Mat1791 on Apr 23, 2020 10:17am
NAV = Total Value of Inventory at current July Price/total shares
Comment by
itharami on Apr 23, 2020 10:25am
Thanks. So NAV is calculated based on oil price for July contract. That's not good lol. If price of oil goes down then NAV will go down and that gap won't close in who knows how long. So I take it, SP is still created on open market and it's at the will of big boys?
Comment by
Mat1791 on Apr 23, 2020 10:27am
You graduate with honours!! Correction - Big Boys and Dumb Retail
Comment by
valmeidan on Apr 23, 2020 10:17am
Yes but it could technically stay at 1.60-170 until the gap between current and the NAV gets closer correct?
Comment by
Mat1791 on Apr 23, 2020 10:24am
. Yep. Here is the math July futures = 22.70 HOU NAV = 0.57ish 1.75 HOU with premium NAV needs to make 207% 1X So July needs to go to $69.69 Hey, I gues there is a chance...
Comment by
valmeidan on Apr 23, 2020 10:27am
Yah I guess. Almost impossible