Boys boys boys......let's not fight... and stench - pick up your soother and put it back in your mouth, I think the Beagle has a point, sorry, but don't quit posting over Beagles remarks, his bark is worse than his bite (pun intended).
Just remember that disagreement is what makes a market. Oil stocks are tricky to master and I usually get taught an expensive lesson every day. The problem is that everyone on this board has different goals for their investment.
For example, I might buy or sell short for a few days, Beagle is a longer term holder and that's fine. Just because I sell short does not mean that I don't have a bullish view heading out 2-5 years. I even hold a small amount of SU in my RRSP and don't worry about day-to-day price movements on money I don't need for 30 years. Then again, if I am bored, I might start scalping 300-500 shares of SU (either direction) for movements of .10 - .25, depends on the day. And since things can change so quickly in this business hopefully I will be forgiven for changing my mind from day to day, week to week and so on.
SU is in a nice uptrend at the moment, let's all enjoy the ride while it lasts. Looks like a weak day in store for tomorrow but if CL holds above $65 we should see more strength later in the week based on the technicals - but then again, who really knows? My best guess is a technical bounce off $87.00 with strength coming in the way of further short squeeze pushing us up to around $91.50. So, I'm still bullish on this one for the time being.
For the record, took a chance on oil weakness and bought in at $80... swore when SU closed below $80 and cheered when it gapped up the next day. Technical sell at $89.95 on Wednesday with 12.5% profit in 9 days. No short on the pivot because of the geo-political situation and looking for a new buy around $86.80 if CL hangs in there which it should.
Happy Sunday
3BB