I have officially gone in the red for my OILU investments. I bought in months ago around $38. I expected oil to hit $150 easily in June 2022. This has not happened and now I am just hoping to break even. OILU, which is leveraged, is now hovering around $35. My CVX, XLE and all other oil or gas stocks/etfs are in the red.
It is insane to think but yeah – others I know who have held since March 2022 are now in the red. Should a person for any good reason cut ties and learn the lesson that “nobody ever has gone broke taking profits”? I firmly believe oil will eventually rise again this summer above $135 like it did months ago.
Current positions: 183 shares of OILU, 57 shares of CVX and 318 shares of XLE.
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