Oh what is that lovely smell, Mr. Livingston? Is that the smell of money?
Oh, did we call this one or did we call this one, Mr. Livingston? Why yes, I do believe we did call this one. Today our sell point hit the mark at $11.30 for a gain of 10.78%. Indeed it feels nice to cash out (or cash in, for you short sellers).
I will let the oil market rest for a bit after the big news from OPEC to cut production to maintain prices around $50. We may have a new bottom here, or this may be the average price for the next five years. Either way, I believe that if we see prices fall 10% or so we may very well have a new buy point on our hands.
Either way, well done, Mr. Livingston. Now where is my well-deserved scotch on the rocks?