I sold ECR above $7.10 and purchased more PEIX.
I see oil is coming in. However, the run has been fanatical and it was bound to give back a little. Despite current weakness in oil, I still like SLCA, FMSA, DVN, OXY and of course PEIX. To hedge that, I went long decent size in AAL.
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OIL MOAR!!!! Best 3 days I have ever had in trading in the past 17 years.
The most amazing thing about this market is the way it ignores world events. There’s a lot of scary shit going on.
No the scary thing is how we (not ME…) are little puppets
Someone says $200 OIL… is… possible
Obviously a narrative change and so desired
They’re like “hey guys, hey, im gonna say 200 oil, it makes no sense in hell fuck it i’ll say 200, that’ll move it” PUPPETS
SN is 20% above 11/28 close, CVEO is still down over 60% from 11/28 but is up 15% today. Just sayin.
Gotta love a market where the best hedge for a bullish trade is… another bullish trade.