RE:RE:Oil 84 bucks !! There is going to be some "bad news" re: hedging. But, I'm certain the overall picture is going to be rosey. Today's early action is bullish. The last few trading days had below average volume. If this week's volume is higher, I think we'll see the price run up quickly. If it stays at a trickle prior to the earnings call, we might be looking at a slower climb.
BigJoe778 wrote: Wait for the losses incurred due to hedging. I've seen this storybook before when oil prices were significantly higher than the company had forecast and based their projections about on. There's no doubt it's gonna move higher eventually with oil at $85 plus but I wouldn't bank on seeing $7 this week. It's possible but I certainly wouldn't bank on it.