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Posted on 8/8/16 at 9:05 pm to deeprig9
That's my thought. Commodities in general are at secular lows and energy has taken a beating. I don't see $48 oil being the standard.
Reinvest the distributions in the Canadian Gold trust (CEF). Win win.
Disclosure: I'm long CEF.
Reinvest the distributions in the Canadian Gold trust (CEF). Win win.
Disclosure: I'm long CEF.
Posted on 8/8/16 at 10:37 pm to deeprig9
quote:
Because it is an energy fund, would you say the market is decent for it right now?
Its at 50% below its 5 year high
Normally, yes, absolutely. If the market were 2 years into a 3-4 year bear market, and there was no interest rate/inflation/currency bubble, and we weren't a few trillion more in debt from another credit downgrade, I'd be all over this thing.
But right now? It's just poor timing and so much risk. You might be okay for the rest of the year. I wouldn't wait for the Fed to raise interest rates to try and sell it though.
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