This advance has now pulled back to the , which is ideal for a continuation of the advance. I've been aggressively buying over the past few months and have done quite well it it, but now it's offering an opportunity for more buying.
Mind you, this is not a trading vehicle. It's a long-term holding that you want to reinvest dividends (unless you're retired and looking for dividends as a payment). In addition, it's the perfect to sell covered calls against, again, something I've been doing to increase the yield of my investment. On that point, try to stick with near-dated contracts because an unforeseen spike in oil could make this thing rally hard, thus eating away any premiums you collect selling calls against in.
In short, I'm a buyer (and already a holder of a sizeable position), and I'll be adding today on this pullback to the . It's also showing oversold readings on the R.S.I., suggesting a bounce of sorts is due. I suggest you consider this as a part of your own diversified portfolio.
PS - I've added some upside targets to show the potential, the 127.2% and 161.8% extensions, the latter of which will take us to about $12.30, or almost 25% higher from here. Plus, that 7.8% dividend and selling covered calls against it will further boost your return!
Oh, and don't get caught flat-footed on this selloff... this could be big!
Happy trading (and investing)!