PBT new record High!
Hola Journal,
PBT will always suprise me! After dragging it's feet between 21-22.15$, PBT went up 3 days in row to reach 23.25$ and closed at 23.04$. Not bad!
Crude oil did go up at 104$/barrel, but did not break it's 110$/barrel record. What I learned with PBT is that strangely PBT don't follow crude oil price, but follows what investors and analyst think the crude oil price is heading to(!). So this week, all analysts are saying that the US inventory of gas and oil is going to low, and gas suppliers will not be ready for the rising demand of summer driving. They expect that crude oil will go as high as 150$/barrel (!?!), not next year but this spring 08 and by the way spring started 2 weeks ago!
So I expect for next week that the rally will go on.
I will probably sell all my april 17.50$ PUT and sell a part of my april 22.50$ CALL with a nice profit.
Good luck all and have a nice weekend Journal!