RE:Fasten your seatbelt
OPEC may appear indecisive now, but a 3% to 5% cut in their production levels will disproportionately increase the oil price to their net benefit. The lower the price fall the greater the gain for all producers if OPEC cut production.
Given that OPEC appear the only producers capable of adjusting output volumes and given that many other producers will feel greater pain than OPEC from a lower oil price, don't you think that OPEC is inevitably having discussions with other producers about 'what is in it for them' if they cut volume and does it not appear likely that OPEC's current stance is just positioning to that end.
The current Ithaca shake out is reaching holders that I did not think that it would. Bear in mind that Ithaca's share price is reaching quite extreme value territory now and there is nothing inevitable about a drop in the share price to $1.50. The initial bounce back could well be sharp and very difficult to catch, staying invested is the right move, just put your feet up and enjoy the ride, it is a worthwhile discipline that will make the eventual gains all the more satisfying. The same mentality that causes investors to misguidedly sell now will also cause them to take profits far too soon when the major price move begins, boasting of doubling their money when they could have had a ten bagger.
Doug