Bottom fishing looks riskyAs I said earlier I would go long again in the low 14's but the oil chart is again testing the bottom of range and it could get VERY ugly , suggesting either sidelines or a hedged bet now as oil easily could see a 5 buck drop this week alone if more high inventories or rig counts hit the wire.
Oil has failed its bottoms more often than not as of late and the memories still fresh of bleeding cash at 26 a barrel could see a flood of forward selling from the cash strapped juniors and highly levered players. Just my thoughts. GLTA