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Energy Update

By Jack Chan at www.simplyprofits.org
December 22nd, 2020

Signals and set ups

Investors
During a long term buy signal, investors can accumulate positions by cost averaging at cycle bottoms, ideally when prices are at or near the daily 200ema. During a long term sell signal, investors should be hedged or in cash.

Traders
Simply buy and sell upon buy/sell signals on the daily charts, or cost average in at cycle bottoms when prices are at or near the daily 200ema; and cost average out at cycle tops when prices are above the daily 50ema.

Allocations
Will be conservative when volatility is high, and aggressive when volatility is low.

Current signals

Long term - on new BUY signal
Short term - on mixed signals


OIH - TLBSS.
Long from 103.50, no stop.
10% allocation.
Closed out this week with a gain of +57%.
We shall now wait for a new TLBBS.



XLE - TLBSS
Long from 30.44, no stop.
10% allocation.
Holding as a core position.


XOP - TLBSS.
Long from 44.62, no stop.
10% allocation.
Closed out this week with a gain of +36%.
We shall now wait for a new TLBB


XEG.TO - TLBBS
Long from 4.40, no stop.
Allocation 10%.
Holding as a core position

Summary

Long term (monthly chart) - on new BUY signal.
Short term (daily chart) - on mixed signals.
Cycle turned down this week.
We took nice profits on OIH and XOP, and holding XLE and XEG.to as core positions for the long term.
We shall now wait for a new TLBBS.

End of update

December 22nd, 2020
Jack Chan
website: www.simplyprofits.org