Hey Elliott, I appreciate your open disclosure on your SXY holdings (or lack thereof) which now makes sense following your recent postings. Sure each to their own, but for those of us who who are long, have confidence in the Exec team and have dollar averaged up SXY over the past 4 years we are long and not looking to day trade. The trajectory will continue upward although it’s never a straight line, so patience is required and the ability to filter out the “noise” is critical.
I’ve been in the oil and gas business for over 25+ years and have been through the cyclical swings of the energy sector and this market is all about timing. We passed the bottom 2-3 years ago and today I believe SXY is one the best positioned Australian small cap upstream players that will be capitalising on the east coast shortage in a huge way. I’m in it for the long haul and really don’t care about the day to day noise that others are voicing. I have full confidence in ID and his team to deliver to help the current east coast crisis, while ensuring the shareholders are well rewarded. Rome wasn’t built in a day but believe me if there were shortcuts to help deliver gas (revenue) faster, ID would have evaluated the risk and possibly taken them.
Good luck with your short term trading strategy, but I’m holding and accumulating until we’re back in the ASX200 which may not be that far off. Cheers.
SXY Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
