RE:RE:RE:Suncor's value placed on COSWe all know these guys can move oil up and down when they want. Keep an eye out for that move August 24 to August 31. If we can break that August 31 high this week we have a pretty good chance of topping the February 18 high. Technically when downtrends break like oil did July 23 to August 24, the move back up could be a minimum of 50%. That would put crude around $49 and Brent at around 53. That would bring CPG easily back to the low of March that we spoke about earlier and probably a decent valuation. It will be nice to see that July 31 high on CPG break. The 20 day moving average has not even had a chance to cross over the 50 day average yet and of course the 200 day average is sitting at $25.68.
Another thing that is nice today is the HOD trying to go back below $11 and the HGD back below 12.
We all know how these guys work so hedging today with a 16 or 17 November put might not be a bad idea.