Disagree, I don't see the 'very' part, I'd have sold it here, but who knows, I'm not convinced either way.
%% I see your points,Maverick 74...,... AS far as ''pulling $2.65 out of $6 range'' OK Say he is trading trends; $6 sideways trend, which you called a range.OK;OK i dont want to get in the sharp measure problems, now. Plenty of trend followers take 50% out of trend, prefer more, myself,when possible ,but he made a profit. Bottom line i would much rather get $2.65 than less or loss; Shell Oil & Trading took out more> 20% profit/+ than XOM past year or so[North American Oil Sales][ 20%+/ means 20% more or less] This comment is a trend comment, not an argument-thanks. By the way TX TEA/related ,can+ has gapped against ANYONE, much , much, more than ES,SPY......
True Buy 1 Sell Oil; but much more risk for Uptrend with 6 month candlechart is bearish, as of FRI close. Could go to $60. SPY , ES + SPXL,QQQ, UPRO are better uptrend$ as of FRIDAY close.NOT a prediction; frankly i could make a good case for TX Tea uptrend or downtrend , as of FRI +Monday, morning. .........................................................................
%% As i noted i could make a good case for longer up bull trend ; or down bear trend =6 months. barchart .com has over all buy 8% , mostly sell, WTI/Brent; but like Rich Dennis warned do my- '' your own research'' PT Jones has done real well aiming @ = hitting bottoms [plural], some years anyway,OK; but most dont , why?? The math is wrong for picking'' the bottom '', TX Tea; stock indexes are much different.[As maverick74 implied] Several reason$ for that [#1] Its simply an ego thing for many; so wrong risk reward there. [#2] Like target shooting seldom hit the exact center like ''the bottom''; but then that is why all targets have circles [ plural]of larger targets on them.[3]We can skip the small sample; ''the bottom'' is not known except in hind sight; in the 1930's it was under a $00.55/barrel[less than 55 cents/barrel][4-7] If you can profit hitting bottom fishing; fine with me... ...
Geez, when you went long at 49.53, what was your target price, when you did not sell when it hit 52.00? Now we're at ~49.25 and falling.