Given recent oil-price moves an update to our oil-based recommendations is warranted, and with that a clearer observation of our price targets for WTI.
We have recommended oil stocks in addition to ETFs directly tied to oil prices when oil was within our buy-range. These calls included CHK, CVX, KMI, BP, XOM and UCO.
Of these, I highlighted CHK as being uniquely lucrative, it is up roughly 16% over the past month, and UCO was the integral component to my LETS Strategy, in both DIY and managed account versions, and it is up about 19% over the past month.
Although not up as much, the other oil related stocks are still up, and outperforming the S&P 500, which is down about 1.3% over the same timeframe.
With that said, the next question pertains to our targets. These oil-related calls are all affected by oil price movements, and WTI is particular to UCO, so my target for WTI is largely impacting my targets for the above recommendations. Review the Target.