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business newsUSO Too Slippery to Hold?
How to retain profits yet stay with the stock.
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How does one balance between a good long-term developing chart and a possibly mildly overextended spate of recent activity? After all, I want to retain the gains of the past few days of furious activity, but also want to participate in a move to $34. Yes, I want it all.
The way I've made my peace with this short-term and long-term conflict is to recognize and respect the fact that the long term is made up of several short terms. (After all, can I lead an unhealthy lifestyle in the short term, and expect all the health and weight benefits in the long term?).
Keeping that in mind, I will probably take partial positions off the table soon (no hurry, since USO is at highs and has the consolidation support of $29.50, but that can change relatively fast) and navigate the "long term" with the rest of the position.
If it goes down, and it remains as healthy as it seems right now, I can always add; if it starts looking bad, lesser loss.
What about if it goes up, without any pullback? Well, I'll still be a proud owner of partial positions.
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