PTR and EENC
Whow, looking at that PTR chart, wonder is this just profit taking?? Pull back at today's lows I notice was 38.2% of the move....something around 25.50 is a 50% retrace. From there a partial rally back to the highs? Been working the China market through the closed end fund CHN, which had at last report a sizable position in PTR among its holdings.
PTR
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Strike in Nigeria apparently is about to be settled, probably the reason for the give back in Crude from the $31 level.
ISO, further reduced EENC position today....average out price is below the close on Thursday. I sense a distribution S/T or intermediate top in the making with a fall through Thursday's lows further adding confirmation to that view. That's an "if" that hasn't happened, of course. There will be a time to be more aggressive, again, I hope.
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Down to less than 30% of portfolio in energy...half of that in two CanRoys - Acclaim and Advantage.
Comfortable with 25% in cash, likely to be raising more....Fall off in bonds has the potential to spook the markets into unusual action.
Good 4th to you. |
