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April 19, 2022

By American Institute for Crypto Investors Team

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Yet as I explained on CNBC’s “Closing Bell” yesterday afternoon, the decline was largely psychological and appears over. The Chinese market has bottomed out following joint government/investor moves. This is not a signal that a recession is coming. It is an overdue correction. Even with the huge losses of the past several days, the Shanghai Composite Index is still up over 83% in less than a year.

As for Iran, as I explained in Oil & Energy Investor last Thursday (“How the New Iranian Deal Will Impact Oil“), even if there is an agreement reached tomorrow (and that looks increasingly unlikely), we will not see significant new Iranian oil volume coming into the market for up to 18 months. Even then, demand – especially Asian – will be rising to meet it.

Greece is another matter. But the next impact on oil prices comes from premature concerns over what the debt crisis will do to larger European economic development and demand levels. Containing the “Greek gift” is probable, even if the government’s gang that couldn’t shoot straight in Athens yet again screw things up.

Nonetheless, I will continue recommending moves to limit the risk as we move through another round of uncertainty and volatility.

We four moves to make today. First are two sales of stocks that reached trailing stops in trade yesterday. Until very recently, Harvest Natural Resources Inc. (NYSE:HNR) had been a nice high flyer, generating a triple-digit return in late May. However, it declined significantly yesterday, triggering the stop.

We still realized a very nice profit. Remember, the trailing stop approach dictates sale when a stock declines 30% for its highest value while held. That happened at $1.46 yesterday afternoon, a gain of 47.8% since HNR was introduced into the Portfolio.

Had you been following the regimen, you are already out of the positon. If not, sell this morning at market.I am likely to recommend moving back one stability returns. I will let you know when to move.

The second sale is of Gastar Exploration Inc. (NYSE MKT:GST), another stock that had been performing in double-digits until the recent weakness hit. Given earlier rises, however, the loss here was barely 10%. Once again, if you did not sell yesterday, do so today.

Actions to Take:
1) If you have not done so already, sell Harvest Natural Resources Inc. (NYSE:HNR) at market.
2) If you have not done so already, sell Gastar Exploration Inc. (NYSE MKT:GST) at market.

The other two moves involve replacing trailing stops with hard stops for two other stocks in the Portfolio. In each case, as with similar moves in the past, the intention is to raise the exit price, thereby minimizing downside risk.

Gulf Resources Inc. (NasdaqGS: GURE) is a chemical company having a nice position in the provision of product for drilling needs. The concern here is that GURE is Chinese based. The company does have a privileged position from the government following a series of mergers, but it is the overall view of the Chinese market that is of primary concern here.

Replacing the current trailing stop with hard stop at $1.95 will limit the loss.

We have a similar move with Painted Pony Petroleum Ltd. (OTC: PDPYF), the small Western Canadian producer. Replace with a hard stop at $5.75. PDPYF is still less than half way to the current trailing stop. However, the longer the present uncertainty in oil continues, the more pronounced is the pressure experienced by the more focused, smaller North American producers.

Actions to Take:
1) Replace the current trailing stop for Gulf Resources Inc. (NasdaqGS:GURE)
2) Replace the current trailing stop for Painted Pony Petroleum Ltd. (OTC:PDPYF)

Sincerely,

Kent