RE:Peakoilbarrel.comthanks Oldnagger..... interesting report.
Dont know how the day is going to end up but both the S&P and Nasdaq hit 52 week highs earlier.
Gold & Copper performing very well lately as well (even Crypto making gains).
Considering 10 interest rate hikes, Q2 reporting from some of the S&P have been decent as well.
Oil giving back some of the weekly gain today but stories/concerns still out there (Libya, Saudi cuts, Mexican supply, etc).
Most of the energy names getting hit today (profit taking for some).
For SU specifically, dont know if some instutions exiting the investment with Q3 under way or uncertainity still out there with the recent purchase being nixed. Perhaps.
They purchased 22M share in Q1, I would be surprised if they didnt purchase about the same (or more) for Q2 (for a lot less money).
Could be wrong of course, but I am adding down here, a liitle more each day.
For me, the overall story has not changed.
I would be concerned if Oil price was trending lower but i think its going to be heading higher.