To me right now seems like an odd time to take profit. Oil is utterly screaming and without having gone too far above repeated opportunities to take profit, we have broken out and are perfectly poised for a run up to 10c+. I imagine some sort term traders would be flipping small percentage quick profits and good for them, but for anyone else it seems to me like a silly time to sell.
Oil still sitting right up around a four year high and climbing strongly. SEA still less than half the price target of several brokers and with a beautiful bullish trend. Sure, anything can happen but the risk:reward situation right now seems to make holding a good idea to me.
Perhaps at 10c (a big round psychological figure) or double the recent (6 months or so ago) SPP price (over 11c) may make more sense to think about profit takers.
SEA Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
