RE:With this week's API/EIA #'s, I see BTE...oil991197 wrote: ...opening down tomorrow morning roughly $.07, deeper red to off +/- $.12 after EIA, and closing up somewhere between $.08-$.14 after it all shakes out. WTI range of about $52.75 low to high of about $53.45. Of course I could be totally wrong and off by a bunch, but my sense is that I won't be too far from right. Regardless, I absolutely see another day of predictable volatility that should produce at least a $.20+/per share price swing that's just begging to be exploited. If you're sitting tight and holding long, a run to $55 WTI and $6 BTE is all but inevitable in the relatively short term. Longer term stabilization of WTI above $55 is a necessity for pricing to build a new floor of $6.50 - $7.00.
The rest of this week should be good...and this spring should be excellent.
Or not...what the hell do I know?!?! Maybe Unlucky finally, miraculously, makes a pile and I don't.
Pretty much bang on for part 'a' this morning and still like my chances for part 'b' this afternoon. Placed my bets, time will tell.