Thank you to those who shared price target info., etcHey Folks,
I appreciated all the responses to my question about potential targets to start taking some cash off the table. One thing I was stuck by the humble tone of the responses. Hmmm... I too have been humbled and more than once! Obviously, everyone has their own risk tolerance, etc. and we have all learned that ANYTHING can happen. Last year, I made some $ off Stelco after it peaked out about $51,,, about a month or two BEFORE the steel prices peaked! I have lamented selling more of it at prices in the 30's to find other opportunities... and then this month it goes to a new record high (56.99) on the back of the steel and pig iorn losses in Russia/Ukraine from the war.
Back to the oil market... I learned in Grad School that based on Game Theory, OPEC members will ALWAYS be incentivised to cheat on their quotas. This was backed up by a recent comments I read about the increasing failure of OPEC members to hit their quotas, never mind cheat. If you don't cheat a bit at these prices... then the question is Why? Probably because they cannot produce any more!
Anyways... for those reasons and also based on what is happening in the natural gas markets... oh and the impact of the SDE hedges rolling off I am going to Hold for now... despite the increased risk or perhaps inevitability of a pullback. I wish I could time those better... but there are now capital gains issues to be considered as well.
Thanks again... and GLTA