Hey K,
From what we're seeing, oil could very well go to $20. My sequential buys are based on increasing percentages since last purchase until I complete 3 sequential buys. At that point, I will hold until a sell opportunity. I'm just not good at picking a bottom and knowing best time to get in. There seems to be an over abundance of oil worldwide and it very well may take some time to recover. However, in my history of watching oil at times of down-turns (buy opportunities), I've missed out on the recovery that happens unexpectedly (refinery fire, conflict, etc.). I'm in it this time, hopefully not for losing outcome:)
Best, Alton
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