RE:Crowded Short Trade - Long in the toothUnless COS BOD can pull a rabit out of their hats, it's time to be reasonable, phone Mr Williams and accept a sweetened offer, if even 1-2 dollars and get this deal completed with board approval.
rising oil prices are just no in the cards for the next few months, unless someone blinks, and from the looks of things, no one is blinking right now, russia, mexico, saudis, north sea, only the yanks are shutting in production and not drilling as much and produciton is falling albeit very slowly right now.
maybe 2016 will be a fresh start for commodity prices, but again not sure what the impetus is going to be get things started?
maybe takeovers, mergers, asset sales, maybe even winter, cold and long, no sign as yet.
I feel better being joined at the hip with SU and that's not to say they won't be impacted by low commodity prices but they have an integrated model that will work in down cycles as well as up cycles, so I'm not desperate but I also don't want my COS trading at 6 bucks because management wants to keep their jobs.
SU has my vote, again unless COS can show progress on better deals for shareholders and status quo is not going to do it for me.
GLTA