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Now continue to buy into low-premium crude oil LOF and energy chemical ETFs. Is this considered a certainty opportunity?
Last Friday, I added full positions in low-premium crude oil LOF, when crude oil was only around $65. Over the weekend, news of the underwear beheading incident spread widely. At that time, the surrendering voices were quite loud, and after a high open and a decline on Monday, I was scared and sold 3/4 of my holdings. I didn’t dare to recover even when it rebounded, so I missed out on the premiums on Tuesday and Wednesday. Today, global oil and gas, Petroleum LOF, and Huabao are back to negative or low premiums, so I added to my positions again. In the evening, international crude oil prices hit around $90. Since Friday, crude oil has risen about 30% overall, but LOF funds have only increased by 5%-8%. There is a significant price gap, and the situation doesn’t seem like it will end in a week or two, so if there’s another pattern of opening high and closing low on Monday, can I continue to add to related LOFs?
Additionally, I’ve observed this week that energy and chemical ETFs seem to lag by a couple of days. When domestic oil and gas funds and stocks plunged, the chemical ETFs actually performed even better.