RE:RE:Should be a green day tomorrowI see strong short covering today and if this move up for oil continues you will see more short covering as oil prices climb.
don't forget there are only 225 million shares outstanding so big buy orders can influence the price faster than stocks with 1 billion shares outstanding.
there will be more good news coming form MEG be:
1-access pipeline sale
2-possible JV to raise cash and increase produciton
3-continued strength in oil prices and increase CF for meg in q3 and q4.
the downside is still oil prices if they reverse and fall in the fall and winter and worries about large debt if oil falls increases.
as oil price rises debt becomes less of a worry and should be reflected in a stronger stock price.
GLTA