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Oil Pullback Continues

Since the early 2016 lows of under $30, crude oil had been steadily climbing all the way up to $50 before the latest correction, which saw price pulling back to $43 handle. Is it the end of the recovery, or something bigger is brewing? Looking at the weekly chart, it appears to be the latter as a large inverse H&S shoulder is setting up  with the right shoulder at around $39 level.

Our portfolio has been heavily allocated in energy sector since the onset of the oil price recovery from Q1 2016, and have reaped great gains in multiple energy stocks. The trend in commodities in general continues to be bullish and we may use this pullback for position our portfolio to include more high potential stocks.

Exited Positions:

Symbol Name Industry Initiate Date Initiate Price Exit Date Exit Price Return %
HES Hess Corporation Energy 2016/6/1 58.66 2016/7/25 52.81 -10%
QRVO Qorvo Information Technology 2016/6/21 56.33 2016/7/25 60.62 8%

Current Holdings:

Symbol Name Industry Initiate Date Initiate Price Current Return %
NEM Newmont Mining Corp. (Hldg. Co.) Materials 2016/1/28 19.50 40.13 106%
AKS AK Steel Materials 2016/3/3 3.61 5.42 50%
ALB Albemarle Corp Materials 2016/4/4 65.08 86.20 32%
RRC Range Resources Corp. Energy 2016/4/8 34.90 41.02 18%
FCX Freeport-McMoran Cp & Gld Materials 2016/4/11 9.76 12.38 27%
OKE ONEOK Energy 2016/4/13 31.33 45.43 45%
SWN Southwestern Energy Energy 2016/4/14 10.75 14.47 35%
MUR Murphy Oil Energy 2016/4/20 30.88 28.32 -8%
IRM Iron Mountain Incorporated Industrials 2016/4/22 35.10 41.11 17%
APA Apache Corporation Energy 2016/4/28 55.43 51.97 -6%
NVDA Nvidia Corporation Information Technology 2016/5/16 42.08 55.68 32%
XEC Cimarex Energy Energy 2016/5/17 116.33 113.69 -2%
NFX Newfield Exploration Co Energy 2016/5/18 39.21 42.66 9%
STJ St Jude Medical Health Care 2016/5/19 76.20 82.01 8%
MLM Martin Marietta Materials Materials 2016/5/25 192.75 198.69 3%
MRO Marathon Oil Corp. Energy 2016/6/6 13.96 13.58 -3%
CHK Chesapeake Energy Energy 2016/6/7 4.67 5.14 10%
DVN Devon Energy Corp. Energy 2016/6/8 37.52 36.08 -4%
HAL Halliburton Co. Energy 2016/6/20 43.79 42.54 -3%
URI United Rentals, Inc. Industrials 2016/6/22 69.01 78.34 14%
VTR Ventas Inc Financials 2016/6/28 72.08 73.98 3%
ULTA Ulta Salon Cosmetics & Fragrance Inc Consumer Discretionary 2016/6/29 240.66 259.55 8%
WMB Williams Cos. Energy 2016/6/30 21.63 23.63 9%
RIG Transocean Energy 2016/7/5 12.06 11.09 -8%
APC Anadarko Petroleum Corp Energy 2016/7/7 55.22 53.87 -2%
HPE Hewlett Packard Enterprise Information Technology 2016/7/11 19.34 20.21 4%
NRG NRG Energy Utilities 2016/7/11 15.36 14.79 -4%
AMAT Applied Materials Inc Information Technology 2016/7/12 25.41 26.49 4%
EQT EQT Corporation Energy 2016/7/18 75.47 73.87 -2%
NAVI Navient Financials 2016/7/21 14.29 14.17 -1%
Average 13%
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