Bought 1% CNQ last month, and another 1% just now.
I believe once China stops lockdowns, or we recover from the current recession, oil will fly. And it may not fall much during this recession.
Two traders I follow:
- Hedgeye: XLE moved to bullish trend last week, even while WTI is still bearish.
- Paulo Marco: WTI had a false breakdown last week.
I was going to buy it anyway, so may as well buy now.
Currently for energy, I have 5% oil, 5% LNG, 2% Uranium (SPUT). Want to buy a little more Equinor (oil) and Uranium. Overall I am 90% long, 10% cash, 47% short.
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