Groovy climb1 Dec 2021 12:23
Hi board,
I am down considerably. My investment case hasn't changed and we haven't received any news that would suggest I should review my position.
So what I have I concluded is happening here?
1. Market sentiment on oil dipped. According to various sources it's temporary and Heid's bullish views oil seem supported by these.
2. No institutional investors have dumped their shares in UJO, no Tier 1s, so can assume their position remains unchanged.
3. Volume of PIs in small AIM shares always have disproportionate affect on share price. Just look Egdon.
Unless anyone has any other news I don't have, I can see any other reasons. I think it's a case of PIs moving money on short investment horizons.
"Oil stocks
UBS Wealth Management said investors should look through the 9pc drop in the price of oil since Friday and stick with stocks in this sector, because the oil price would keep rising. Trading at $75 yesterday, UBS said a 20pc jump was on the cards