Sugaree ... the Bull case FWIWThe long term Bull case for Oil still appears intact. i.e. inflation and lacking commodity supply, increasing demand - albeit with some cracks showing such as Shale rigs increasing with concerns growing about their capacity for self discipline amidst increasing prices + Iran Oil returning to market. Yes I know pundits have an answer to these worries, but the worries are mounting nevertheless.
However, in the short / medium term Oil and markets are pulling back and I am watching closely for *possible* re-enrty of trading shares.
Markets could get uglier or they may firm up. To remain bullish longer term, I would not want to see this pullback drop more than 50 day MA on NVA, but will reassess if we get there.
For those who are very confident in the long term thesis and ok with volatility, bob's your uncle - ride it out.
For those who hate to get caught holding stocks in a down draft, (me), volatility brings opportunity.
Good luck!