To: Bull RidaH who wrote (2228 ) 3/7/2022 6:52:14 PM From: robert b furman 2 RecommendationsRecommended By
Read Replies (1) | Respond to Hi Bull and Birdie. My long term friend (Art Roldan) who is an incredible chartist has shared this chart on WTI crude:tradingview.com The wave count I sent on March 1 st remained intact. In that update I wrote that 115.63 would be the next price target and that was hit. Note prices broke thru resistance at 113.85. Next target would be the 100% Fibonacci price extension at 130.91. How long will the war last? I suspect no one knows. When crude bangs on 130 ish, my finger is going to be on the sell keyboard. The 2008 high of $147.00 in todays Dollar is equivalent to 222 ish. If OPEC+ can out pump the US and other NON OPEC+ members, I'll be out at 220 crude with a huge capital gains. OPEC+ has a solid track record of boosting crude up EVERYTIME they have pricing power. The only time they've not had pricing power is when US technology and US politics has allowed business to get after it and create energy independence for us and energy has dropped in price globally. At the very best, that is at the minimum 9 months off. Cold reality is Biden is not a threat, he is being laughed at by OPEC+; Elections have consequences and Biden is being laughed at. The Ukraine war is simply proof! If not the dividends of CVX, XOM and KMI are yielding me 6.5% based on cost), (till I push up Daisies). It's my best hedge against the future and inflation. Not that I wouldn't scale out a third and recover most of my seed money. I'm so over weight energy, my account was up most all of the day, on a Dow down 700 point day. As long as Putin is hard headed, my bet is crude keeps going up. Word of "Cease Fires" have been quashed two days in a row with continued bombings and/or refugee routes to Russia, uh I mean showers. Crude has to show getting heavy for me to lighten up on energy. CVX dipped and so did KMI today, after a nice run. XOM is benefitting from its anti cycle bet on Guyana, and it is paying off in spades. XOM is the only E&P growth company out there! IMO A BIG FAT CASH FLOW HOG! KMI is as well, to lesser degree. In a world of low rates and high dividends (yields based on cost), they are super stars. JMHO I added to Cohu 1% today as they hit a 52 week low. I apologize to all for my recommendation of this stock. It is all but debt free with more cash in the bank by far than debt. They also are a very hard stock to own. They are a value stock with a 23 CAGR and 42% margins and an EPS of $3.50 plus! That does not add up to a below $30.00 stock. If that's not value - don't know what is, but the MM's will test your resolve, like few do. Blanket apology to all. Bob
