RE:weekly drill rig datathe oil rig direction is the bullish direction but the velocity is not quite there. I was hoping for over 20 oil rigs dropping last week.
maybe this is why oil fell back today.
Hey ideaman, I really don't care on your position, if you can make money trading MEG, good for you.
I have short puts and long calls so the best scenario for me is a takeover or much higher oil prices later in 2016 and nothing happening in first half except side ways up and down action.
I did sell come cals today to raise some cash however for april, again short term sidways action.
now if they do sell access piepline for a good amount the SP will pop, over 1 or maybe even 2, because as you said the bankrptcy scenario is not on the table and no where in the vicinity of a table, so leverage concerns are over done, I agree.
have a good weekend everyone
p.s. buy gold and gold stocks but dyodd