as I write this oil is below 78. it hit over 80 on Monday and even climbed over 83 on Tuesday, however at the end of trading it fell to just over 78.
not a good sign when it can not hold 80, on a sharp equity rally, and it might be a sign of things to come. many stocks rallied in Canada, just as they did in the US.
yesterday ECA, TLM, NXY, PCA all rallied from 13%-25%. in these uncertain times and oil not holding 80, well now below 78, will sell some of my energy holding and reduce my energy portfolio further. now down to about 25% of its orginal size.
thought oil would rally with this market, however going to use the rally to get some prices may not get in a few weeks. still have covered calls, and uncovered calls to teh rest of my energy holdings....may add to some of these.
thanks
selkirk
not a good sign when it can not hold 80, on a sharp equity rally, and it might be a sign of things to come. many stocks rallied in Canada, just as they did in the US.
yesterday ECA, TLM, NXY, PCA all rallied from 13%-25%. in these uncertain times and oil not holding 80, well now below 78, will sell some of my energy holding and reduce my energy portfolio further. now down to about 25% of its orginal size.
thought oil would rally with this market, however going to use the rally to get some prices may not get in a few weeks. still have covered calls, and uncovered calls to teh rest of my energy holdings....may add to some of these.
thanks
selkirk
