RE:To bail makes little sense...now
In response to the previous poster who said the downside rom here might by $1, I suppose the maximum downside from here is no more than $2.74. This is a classic rout scenario. People capitulate and sell at the very bottom- and we are getting close- only to buy back in when the share price starts to recover. From what I am reading, I expect crude prices to stay low for the first half of 2015, and then start to stabilize and recover. With a 12 month view, Bankers will likely be in the $5 range in December 2015. Bankers will likely get hammered on Friday when they announce a reduced capital program, and that will likely be a good entry point. I would relish the opportunity to get in again anywhere below $2.50. I will take a 100% gain in 12 months anytime.