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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 683.47+0.6%Nov 28 4:00 PM EST
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To: Turtles_win who wrote (175251)6/8/2022 12:02:00 PM
From: FCom7771 Recommendation

Recommended By
yard_man

  Read Replies (2) of 219479
 
Fully agree with respect to an impending energy correction - but it sure is frustrating waiting for as it marches higher day by day. Recently pulled a great profit out of DVN at 77 which I purchased at 53 thinking that it was overdue for a correction after such a good run. Now it is at 78.5 ...

Don't get me wrong, I still believe energy is heading much, much higher - just hard for me to believe a good shake-out - maybe to crude 105 - isn't going to occur to eliminate weak hands before moving to 130 + and higher.

Feels terrible not having a good energy position on at the moment - but in my experience patience usually wins the day.

Just put on a GS position @ 317.10 which I'm pretty sure will work out quite well ... fwiw
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