RE:RE:RE:sold today but will likely be backQuintessential1 wrote: I agree and if oil swings in that $80-95 range the deciding factors in the share price should be the production reports and the earnings report with particular attention paid to production increases and debt reduction. I believe those factors will define the ceiling and the floor that the share price swings between as WTI swings. Question is: what will those new sp levels be?
GLTY and all
VeritasVern wrote: True that this stock has risen and retracted consistently in past and we know that is based on oil sentiment/news which directly affects the direction of the price of oil. The main stories that seem to swing oil prices are bullish fundamentals on the upside, versus recession in the US/China most recently. However of late it appears the fundamentals are clearly emerging as the dominate factor. The latest EIA inventory showed a massive decline of 10.6 million barrels with the Saudi mostly likely committed to producing less. The US has began to fill the SPR which is now a bullish affect just when supplies are contracting. I still believe the oil market is and has been manipulated clearly for profit reasons and I wouldn't rule out how the politics of having oil in the 70-80 range has had some affect. There will be more swing prices and opportunity to trade for sure but it may be in the new range of $80-95 in this last quarter and the million dollar question is when to get out/in.
I think part of what's holding cj back is the dividend. I was fine with it at 5 cents a month. I haven't bought any shares since it went to 6 cents. 5 cents was a very healthy dividend and it was safe. There's now an overhang on the safety iof the divvy with it now at 6.