With every news about crude buildup or drawdown, the oil price fluctuates and the oil companies go on a rollercoaster.
My favorite oil company, Evolution Petroleum (EPM), has gone on a wild ride since the pandemic.
As the price graph shows it has gone up and down, up and down-
Originally, I was a buy and hold. And I still buy and hold a relatively material position.
EPM has good properties and has no debt. Plus, some insider ownership (8%)
Plus, a good upside-
Hence, I am long EPM. However, I will keep swing trading until COVID19 vaccine is real or we just live with COVID19 and open the economy.
I want to just buy and forget it for sometime. But the 3-4% price swings makes it ideal for swing trading-
I am thankful that I learned to swing trade- It has definitely improved my profitability. The profits are not immense because I trade with small position sizes for risk management. But still good enough profits 😀
However, the time to study the charts, checking news, and preparation for the trades does take time and effort. I learn a lot and enjoy the process but I would like to spend more with my family and research. Buy and hold is most efficient when possible.
Praying for the end of COVID19- God bless us all.
Thank You Jesus for all Your blessings. I am thankful that I can trade. Please help me use Your gift to love and serve and further Your Kingdom. Amen-
Rejoice at all times. Pray without ceasing. Give thanks in every circumstance, for this is God’s will for you in Christ Jesus.
1 Thessalonians 5: 16-18