Oils for the summer...

I plan on adding PTR to the my portfolio tomorrow to go along with SU. I would have liked it 2 weeks ago but I was so damn excited about how low USGL had gotten that I lost my wits (see post http://theskinnyreport.blogspot.com/2006/05/not-bad-day.html). Anyways the current RSI (14) is about 43 which is below my normal trigger point in strong bull markets of 50, but higher than it was recently so I don't consider it a chase. If the summer is remotely like last summer expect oil to go to $80+ and in that circumstance PTR will probably go $130-$140, which would provide approximately a 22%-32% return from today's close. Historically buying under the 50 day MA and around an RSI of 40 has proved a successful buying strategy (see chart below). Anyways, tomorrow is a big day for me potentially. I'll fill you in later when it's all taken care of.