RE:Repsol isnt FrenchHold on there Don Quixote...oil can easily go below $50 and stay there for a while. I am not saying you don't nibble here and there but I think you wait until this carnage plays out. If oil drifts to $40 and below, you can imagine the $$ you are losing and leaving on the table. Only a fool is loading up here. Small, small buys (or wait until this market shows any strength) , protect your capital.