RE:Sucker rally imoNaka2112 wrote: I can't understand why anyone would go long at the moment. Huge builds in oil stockpiles and Saudi will not cut. People are gonna get burned imo.
Glta
Where were you 18 months ago?
Probably buying long, by the tone of your comment.
18 months into a bear-market and you're advocating that people go short?
Sorry pal, you seem to be a little late to the party.
I'm not advocating anyone go long... but the question posed earlier was whether we are approaching a bottom; and from my point of view, if I were short this stock (or any energy stock), then I'd be thinking about covering that short. Energy stocks up on an otherwise down day in the market? Yeah, I think this bear market is starting to show that it is getting long in the tooth!
But don't misinterpret this to mean that I'm suggesting that anyone back up the truck... not yet, anyway!
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