RE: Drilling news this week??? Been watching macro conditions closely. Unfortunately, thanks once again to Greece, we may have an NR that will fall on deaf ears. If patterns repeat like last time Greece popped in the news, we "could" see further selling. As much as I hate the news, lemmings seem to feed on it and trade accordingly:
Market watchers warn the benchmark Toronto Stock Exchange S&P/TSX composite index could easily revisit its 2011 low, giving credence to the old market adage "sell in May and go away".
"The lows of last year are a reasonable barometer of where we might go," said George Vasic, chief economist and strategist at UBS Securities Canada Inc. "We had a pretty solid fear factor last year."