Morning Update – March 20, 2020

I just saw a headline, The Lesson US Shale refuses to learn. This is nothing new, it’s the lesson that greedy human being will never learn. Most true would be that the next generation forgets or thinks they can do better. The Oil industry is littered with low dips that have caused major disruptions for industry players for decades. With newer technology, such as fracking, comes newer versions of the same old problem. There has always been a lot of money in oil and the industry has always attracted greed in droves to the point of over-supply. People never really learn, their egos just drive them to believe “everything will be fine”.

My USO is up 2%…. Well not anymore, haha… I’m holding 4 shares, and I’m going to place an order to sell 1 at my break-even price of $5.55 right now. I’ll publish this and keep writing. I’ll update soon. As for UNG, if it gets to $13.89 I’ll reduce back to 30% again. I am 44% in UNG with 30 shares, I did get 5 shares yesterday at $12.61 and will place an order now to reduce those same 5 shares at $13.61. My break-even will move higher to $13.94, but not enough to matter to me. I always like the idea of reducing risk when a layer is at a fair gain.

4 shares of USO at $5.55 – Reducing 1 at $5.55

30 shares of UNG at $13.89 – Reducing 5 at $13.61

To be continued

I’m too busy…

I’m actually more interested in USO right now with Oil bouncing off of $20. I’m quite tempted to take on a position with a little more risk today. It appears I’m not going to get $5.55 right now, I was late on the draw. So where should I buy USO? how about right now. Oil is just below $25 again. It may be heading down, but I’m not going to get crazy. Looks like prices are falling so I’ll set an order to buy at $5.10 with 5 shares or about 2.5% of my account value

Limit order to buy 5 shares of USO at $5.10 – Now about 4.5% in UNG with an average of $5.30

I’m going to wait on UNG for now. I still see potential for another dip and I’m already 44% in UNG. Have a good weekend, back to work. Good Luck