GREY:LSTMF - Post by User
Comment by
orlandoflon Jun 10, 2016 4:50pm
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Post# 24956140
RE:RE:RE:How Far Can Oil Rally? Investors Wager on Surge Above $100
RE:RE:RE:How Far Can Oil Rally? Investors Wager on Surge Above $100emmitt wrote: Speculators are really getting old. $20 oil, next fella says $100 oil...blah blah blah. Oil still has a lot of oil in storage, it should take some time to get over $60. Once oil gets over $60, we will have lots of oil coming back online. I've been investing withe assumption oil is range bound and have done quite well for the last year. Sold half my tourmaline and CPG today. Will buy some back if they continue to drop.
As far as LTS goes, will not repurchase until Wright is removed and debt issues are resolved. Hoping they get the 2 lawsuits resolved as well. Lots of headwinds still.
Debt responsibilities are still eating up way too much $$$$ per barrell.
Glad to see you've diversified away Orlando. Enjoyed our conversations last year.
Good luck.
you too emmitt, while you were selling cpg I was buying - picked up another 3K at $17.03 USD - too early as usual - trading it maybe a better option - I've been looking to hold and if it goes up pay long term capital gains on it instead of short term capital gains. I would have been better off waiting a little longer in accumulating more - just trying to keep increasing my positions - I think there is an opportunity in oil, but I agree that production will come back on with higher oil - some hedging at $50 or slightly higher could get some production - we'll see what demand looks like as the US and Canada may slow the decline here. I'm just accumulating and hoping that the stock goes into the high 20's or 30's over the next couple of years.