$6 COS Longs How's it Goin' Eh?
Oh I'm so glad I loaded the boat at $6.2!
I tried and tried to convince people there was a lot of value in COS at ~$6. Hopefully a lot of you out there took my good advice and did the same!
IMO there is still a lot of value in COS at ~$10.00.
The one big event coming up though is the OPEC meeting. My analysis is that it is still too early for SA to throw in the towel and OPEC will stand pat. Last year and in June this set off wicked bear moves in oil. That said no doubt by mid 2016 oil will be much higher than it is now it just may go lower in the meantime.
My advice? If oil does make another big down move you will be able to pick up oil stocks at some dream prices. COS may not be one of them though. Look to SU to sweeten the bid.
Happy trading!!