Since then I've bought in and out of ERF so many times my finger the computer wore down my fingers. Each time I sold I made excellent momey. I purchased it on its most recent foray into $50. I've done the same with Arc and Acclaim (now Canetic)
What's the point of this? Please believe me I'm not trying to boast of my success with ERF. And I am also uncomfortable with the current swoon in CRTs. But this is the nature of the beast. Up and down like a basketball. But one must remember the long term supply and demand fundamentals for oil and gas remain intact, so this time I'm hanging on to my ERF, COS.UN, PGX.UN, PEY.UN, AET.UN. I don't know what's causing this downturn, US stockpiles way above average, sector rotation, shoulder season, but my bet is by the end of the year will see much higher prices in oil and gas, and, consequently, in the prices of CRTs.
ERF and the other CRTs I'm holding are pretty solid, and should be able to maintain distributions.
It just seems that the world is overflowing with oil and NG all of a sudden. Today on CNBC one talking head predicted oil at $50, and the IMF predicted 2007 oil around $75.50. Wonder why were confused?