I'm out of MEG for nowgood luck to longs but I have decided to exit and wait for a better entry point.
MEG is pretty much full value at current oil prices and then some but oil can go higher in the new yearm for sure.
I think it going to take a few months for the cuts to take effect for come countries and with US producers ramping up some oil wells at these higher prices the market will move around for a few weeks before it's gets stable footing again.
if MEG's debt as under 3 billion I would have hung around but as it's 5 billion and possibley growing if they decide not to issue shares for 2017 capex, then I'm happy I exited.
now the MEG puts are an easy way to get back in at lower prices, but I'm not sure if I want to risk selling puts at this point, maybe if MEG falls back to 7 range I will do that and wait.
oh well happy holidays and happy bew year and prosperous new year for everyone here, long and short