Terrible Week for $USOIL, Halliburton ($HAL) Re-signals Plan

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After a quick spike over 16/s, Halliburton has sunk all week and may dip even below 14/s if this current trend continues to accelerate. Many chose to dump after the rapid ascent to 16, and that sell-point makes plenty of sense as a short term play (especially now!). However, the original hope for a 22/s sell-point was projected not until the Christmas to early 2021 range. That now, again, looks far more accurate with HAL really stalling out and dropping this week.

This mostly is to say the original sell window was re-confirmed, despite some bulls indicating both in posts and the comment sections (here, of mine) that a 4th Q open would see USOIL between 60 and 70 per barrel. That seems at least somewhat unlikely at this point, though the operation of many states has advanced past "Phase 1" COVID re-openings so the time-scale still...largely depends on HUMAN BEHAVIOR.

Many opportunities to re-position on HAL and other oil stocks will be in play over the span that oil continues to struggle.

Happy Trading!

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Note: This is a position entered MAR 20 @ 5.11/share. The stop-loss is comically non-existent in the longer term swing for yours truly, lol

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Note II: Holy cow, entire market crapping, a short made enough sense and I'll blame myself b/c this was easy enough to anticipate. It also isn't "newsy" enough to warrant a repeat update on this thought!