/biz/ - Business & Finance

>Sold MRO at 4.40
>made enough money I am now over 25k
>unlimited day trading ability now
Don't know if I'll use it, swing trading seems to be better. Those after hour gap ups is where I've made most of my money to be honest.

But in anycase, I was planning on holding MRO long term, but everyone got me scurred about the coming oil glut and how oil will retest the bottom here in a couple weeks, and MRO has their earnings report coming out on may 1st.
I would imagine that the earnings report will be just AWFUL, combined with $20 oil or less, I think I'll be able to re enter MRO at $3 and by may, the production cuts will take effect, some of the travel restrictions will be lifted, so demand will pick back up in june. and then I can ride it up again.

That's my plan at least.
TL;DR - I expect MRO to tank in the next two weeks to the low $3s and re-enter around the beginning of may.

Good idea? Bad idea?