We are seeing some great moves. This should be an indication the correction is over and onward and upward for commodities. As a result, we can roll out to the next month. I would prefer more of a run so i will defer rolling until next week.
Word of caution here. Some times when you get a good bounce of a correction you may see some back sliding.
If we were to roll out this week we would get a nice 10%. I think we can do better next week. Now when I am talking about 10% I am talking about all positions. XLE right now is much better than 10%.
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5 comments:
are you talking about rolling your short positions?
It turns out I was wrong less than 3 Dollars but right on the money about the date. I'll take that 111 and some change as the bottom.
I didn't buy puts in DUG yet, I chose to sell puts in USO instead. Just as you mentioned there will be some zig zag going on for a while, till all the spirits get onboard and take oil up again.
Nice call on the date I DID remember.
As for the roll out yes that is the short positions.
I thought we were going to have a nice rally today on oil, but didn't happened.
There is an uptrend forming, but there are still bears left and they want to press a little harder back toward 110. I hope it will not happen this week, as they call for it.
I expect a run up till the 25th. We'll see.
Dell,
What about tlt? Are you buying more put spreads?
Debbie
TLT I am staying pat on the position. As the inflation numbers get worse, bonds will fall regardless of the feds raising rates. Many times the feds lag the markets and the markets force them to raise or lower rates. If you do not have a TLT position, now would be a better entry point.
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