ConcentratedPositions
Jul 1, 4:32 AM
$FET Pacer ETF
$CALF buys a bunch of FET. They also run an ETF named
$COWZ focused on cash cows. FET in the small cap variety.
It’s funny that oil stock sentiment feels like covid when we’ve lost a couple billion barrels of production.
There’s definitely been better times to buy (though id argue risk was significantly higher) but it feels like the momentum factor working against us is bound to flip as it always does.
I was looking at short interest today. It increased from 221k shares short the day before we started bombing iran to 552k shares short as of 6/15. Add the recent moves upward in rig counts and frac spreads and that’s clearly fuckin dumb. Being down 15-20% since the Iran BS started for FET is almost as dumb as oil being nearly flat, which may take the all-time dumbest shit ever market move gold medal.
I take a lot of comfort in buybacks. Make
$250 the longer term value instead of
$200. Pretty good at being patient by now. Let it play out.
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