At $7.74, PGH has come down to "fill the gap" created when it opened at $7.89 this morning.Will PGH now resume uptrend and try to close the day near $8 ??Comments please
Just looked at oil prices - 34 today. It will probably pull back some more. When it gets down around 7.40 buy it, and when it hits 8 sell it. I trade around a core position this way...I never sell my entire position, and will buy on margin on the dips, and sell on the move up.I do like that $1,500 per month payment...
the potential here is next march oil according to the futures has oil at 60 per battrl
At this point, it all depends on the price of oil. When oil is going up, people are buying, when it goes down, people are selling...Could people be institutional trading? The float is so thinly traded, it does not take much to move the price.