So far, so good, for you, but one of these days the spike will be backed by news, or it will just keep going without news. This is the fourth wacky volume day out of nowhere since January (all higher prices), and at some point there is going to be a new price. The odds of that next reset price being lower than now are low.
Some people are going to be on the outside looking in if/when all Hell breaks loose here. It has shown that with any real buying pressure at all, things can get out of hand to the upside pretty quick.
We'll see what happens, but my prediction is that between now and the end of the summer, a multi-leg run that establishes a "cruising speed" price of at least 80 cents (as opposed to the current cruising speed of 40-50 cents, give or take), will happen. And once you settle in at that next level up, the wind doesn't need to blow hardly at all to blast past one dollar for good. But a super blast over $1, followed by never going below $1 again is possible at any time, and it usually happens when you least expect it, so maybe this week. Maybe not. But an extreme reset to a much higher price level seems to be in the cards. It is percolating and one day it won't look back, and there will be no more retreats.
We'll know more in the next ninety days, and probably sooner.
