EPE looks a little bit overextended here but I think both the ETF (XLE) and EPE can still go higher. I’m planning to sell the small position I took in the $2.40s if it goes higher. If it goes lower, I’ll add to my position (probably in the low $2.20s or high $2.10s).

I think EPE closes the week above $2.40 unless energy really takes a downturn. Energy as a sector, was up on a down day so I think it still looks strong. Don’t expect it to have another day like today, though!

I will look at XLE in the premarket tomorrow morning and update if my position changes. More than likely, if XLE is green or flat, I’ll stay with the course set above.