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I would finally agree that buying some high quality energy stocks wouldn't be a bad time now. It's impossible to know when is the best time though. I bought XOM, CVX and EOG on Friday, but only half positions in each.
The easy money has been made since late August in the O&G space. Next is some volatility followed by a longer-term up trend. Still great buys at these levels, but there will be more volatility.
The easy money has been made since late August in the O&G space. Next is some volatility followed by a longer-term up trend. Still great buys at these levels, but there will be more volatility.
That's not called easy money, that's called guessing a bottom, which is why most traders end up getting out after their first stock market crash.
And right now the trend is not an uptrend, it's a potential bottom that is consolidating. We need to see consistent higher highs and higher lows, before we can call it an uptrend, which is why I started a half-size position in the stocks I mentioned.
That's not called easy money, that's called guessing a bottom, which is why most traders end up getting out after their first stock market crash.
And right now the trend is not an uptrend, it's a potential bottom that is consolidating. We need to see consistent higher highs and higher lows, before we can call it an uptrend, which is why I started a half-size position in the stocks I mentioned.
I call making 25%-30%+ average on O&G trades since the end of August easy money. I have been around long enough trading to know when something has reached a point of capitulation regardless of what the tech charts say. Is it always a bottom? No. But I also don't miss out on easy gains. O&G names had about 6-8 months of crash and capitulation. I was patient and waited. That was long enough for me to know I wouldn't be wrong for long on quality names. Have executed multiple trades in O&G names since late August and a couple netted 50%. Again, tech charts would have told me to do otherwise.
I call making 25%-30%+ average on O&G trades since the end of August easy money. I have been around long enough trading to know when something has reached a point of capitulation regardless of what the tech charts say. Is it always a bottom? No. But I also don't miss out on easy gains. O&G names had about 6-8 months of crash and capitulation. I was patient and waited. That was long enough for me to know I wouldn't be wrong for long on quality names. Have executed multiple trades in O&G names since late August and a couple netted 50%. Again, tech charts would have told me to do otherwise.
When people say words like "i know" or "I feel" it's just a crap shoot in my opinion, but if it's been working for you long-term then don't stop doing it.
Got back in PVA yesterday at .84. Looking for at least another 50% gain like last time, but probably will also not happen as quickly as last time either. Good spec play.
Sold my second round of PVA at $1.07 this morning. Wanted to wait for another 50% gain like my first time trading it, but the stock has been up 30+% last three trading days. Crazy. 50% and then another 25%+ within a month on PVA trades. I'll take it. Buying more if it retraces much.
it was a no briainer since if oil falls to low it will drive the marginal guys out and exxon can buy them up at low prices .
if oil goes up instead exxon still wins .
i never try to catch a falling knife trying to guess what low is but exxon was an exception since i felt either way they will win .
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