two weeks and about $3.00 per barrel later I pop round with an update regarding my running long position(s). All I can basically say is "It runs without a hitch'! Keep going.
Still At The Beginning
The overlaying trend is still strong and that won't change anytime soon, however, the move I am trading at the moment is a huge correction inside that trend. And when I am saying 'huge' I am talking about a span of $30 - $40/Barrel. Based on that the correction is still at the beginning, developing slowly but steady, calling more and more buyers into the market to get moving.
My long position is developing well, so I decided to open another one during teh past week to get as much out of the swing as possible. I may close 1 out of 2 as soon as we see the (red) A at around $64 and wait for some cheaper prices to re-enter. I will basically milk that 'oil cow' until it's dry.