RE:Anyone wish they Its not over. Hang tight. Most oils are getting some short covering and a relief rally, but the problem is far from gone. If you have been reading the capital budget updates everyone is putting out right now, one thing is very constant. Most companies are slashing their cap ex but production levels will actually be up. Thats because everyone will keep pumping the holes they have already drilled plus they will be spending their money on their very best targets to get more production out of every cap ex $ spent. This will result in flooding the market with even more oil than its currently producing. The oil price will be under pressure for quite some time, and that is a high risk for everyone. I don't think the bottom is in yet. The easy short money is gone, but this is just a relief rally