Bought 300 shares of IEO, at $74.19 each this morning. Total cost USD 22,311.
WTI was ~ $53 when I bought. I guess its long term sustainable price to be $70 - seems to be the consensus view too.
Its 1/3rd of my intended position. In case this week's breakout was real. I'm always uneasy buying on breakout, because it comes from fear. Fear of missing out. My old broker used to say "Never chase".
If this breakout is fake, and oil goes down to the forties again, then I hope to accumulate at better values. If not, today's trade may give me a consolation prize.
10 Sunday Reads
3 hours ago