RE:RE:RE:RE:RE:Negative Useless Comments Oil will be up Nicely tomorrowd_trump wrote: Gashole1 wrote: orlandofl wrote: Nessrookie wrote: Saying BTE didn't pay too much for eagle Ford in 2014 be ascause oil prices will go up. Is pretty much the same as saying those who bought BTE at $40 in 2014 didn't pay too much because of the price of oil will go up
keep the dream alive of a buy out though
FYI the shorts are the only ones making money today. The longs are getting burns badly
I would expect short covering this week and a rise in oil and bte then shorting at higher prices it will continue for a while but range of trading should gradually climb from here with oil going over 55 in 2017
Im not sure what will make oil go higher. We are heading out of driving season with record inventories and after the seasonal switch oil inventories are going to continue to rise. To me this will not make oil go up in price.. Can you explain why you think it will?? I dont see anything bullish for oil until the 3rd quarter.
Oil prices are more forward focused. What will drive oil prices from here is the sentiment heading into 2017, not the immediate obvious headwinds - those are already baked in. Despite the inventory and current bearish factors, sentiment for 2017 is overwhelmingly bullish. 2017 is only 5 months away. Shorting is very risky at this point because all it will take is one solid bullish data point or a new supply disruption and WTI will bounce $5. Having said that, we certainly could go lower, but trying to pick the very bottom is tough. If you are a long or medium term oil bull you should have at least a.partial position. Also when oil went below 30, the chorus of its going to 20 or lower grew louder but we stopped at 26. I think the current situation is similar as it seems everyone thinks 35 is inevitable. Good chance we stay range bound 40-45 until something breaks.
Totally understand what you are saying and I agree, but I feel we are a bit early and oil will go into the 30's, but hey I might be wrong and trying to micro analyse oil when the macro picture is more important.