Comments on: Crude Oil & Natural Gas Forecast

By: rsotc

rsotc — Tue, 17 May 2016 16:36:43 +0000

In reply to lee1. lee1- Today's move in WMB is largely or solely due to a technical breakout above the primary downtrend line which was the final target (T2) for the recent long trade (and exactly where WMB pulled back a few weeks ago following the initial tag of that level). Could run from here but I don't have any desire to take this breakout but might be interested in a few weeks or so on a possible backtest of the TL.

By: lee1

lee1 — Tue, 17 May 2016 16:20:27 +0000

Your wmb keeps ripping higher. A little frustrating watching oil continue higher so now wondering if it can indeed retrace to around 43 before going higher. Like the overall market, oil has no business being this high based on fundamentals alone but here we are.

By: rsotc

rsotc — Tue, 17 May 2016 12:58:34 +0000

In reply to lee1. Lee- Absolutely. I've remained longer-term bullish on crude throughout 2016 & will most likely look to add back some more energy swing trades & growth & income trades when the time is right. Still favoring more downside in the near-term for the energy stocks but will be keeping a close eye on the sector for the next objective long entry.

By: lee1

lee1 — Tue, 17 May 2016 10:43:37 +0000

I see there are no more oil long setups/trades (WMB was an awesome call of yours but you closed that one), so maybe more oil/energy plays will pop up on your radar if crude ends up pulling back to your expected 43ish level.

By: lee1

lee1 — Tue, 17 May 2016 10:40:07 +0000

Timely update as I was just starting to think of maybe getting into oil stocks thinking oil continues to run so will wait to see if oil does correct to your level. Longer term i still believe oil will see 50 this year and 60+ next year so maybe a pullback in oil would give a good entry into some oil stocks.

By: jacant

jacant — Tue, 17 May 2016 06:26:54 +0000

Thanks for the update Randy!