RE:RE:I agree with others, I'm on the sidelines until $3.2 CadI don't know what you mean by missed the boat. I bought at $3.2 and then sold at $6.4 the other day for a full 100% gain.
I bought in today near the low, hoping for a rebound, but it never happened. Sold for a few cent loss as I think they'll bring it down tomorrow to
a) squeeze out those who have bought on margin
b) close the previous gap formed at $4.85 CAD
c) continue to take it under $4 where there is another gap to be filled at $3.76 CAD
If all that happens, It'll probably go to around $3.20-$3.50, where it hovered the last time oil was around $20.
Let me be clear, if oil starts climbing, and OVV follows, I am prepared to buy back in higher. Ultimately this will go up big time, but probably it will osscilate back and forth between $3 and $7 until this pandemic is over and oil moves up meaningfully. Currently, it seems to be heading back towards $3.
I am patient. I can wait.