Oil in 2016
OK, now that I have been proven correct when I consistently stated on this board that COS shareholders should accept the SU deal (offer was 0.25 SU, deal at 0.28 SU, apparent spring 2015 offer of 0.32 SU) and Mr. Schulich realized that the COS share pricewas going to get roasted if he didn't capitulate (and possibly become a penny stock if oil stays in the 30s), I think oil stocks in general are still bad deals for the remainder of 2016....Yes, one can likely make big gains by short-term trading stocks like BTE, LTS, WCP, CJ, etc., but just because one of these companies is trading down doesn't mean they can't go lower.....lots of people were patting themselves on the back when they got BTE at $10 or CPG at $20.........Bottom line: the oil glut doesn't look like it's going to end anytime soon - people who own oil stocks are very twitchy right now and it's difficult to gauge the value of many of the oil stocks that have tanked because of the debt they hold, the writedowns they may have to take, the hedges that are coming off, the debt covenants they must meet, the assets they may be forced to sell if they violate said debt covenants......Basically, most oil stocks in 2016 look like video gambling terminals in a casino where people's best hope for making money is to try to get lucky by getting in and out of these stocks as their prices spike and drop.......Bottom line: Barring a major disruption in the flow of oil from the middle east due to war, etc., it looks like oil prices will continue to struggle, but if you like this kind of mayhem well, knock yourself out.....