bottom is near---for cpg, but not for oil yet...IMO
---CPG chart...oversold on some indicators, but no buy signal yet except for OBV (leading indicator) which is shooting higher.
---latest earnings report not bad everything considered.
---sellers are those who were expecting better results & threw in the towel (tax-loss selling a bit early) & will kick themselves later for selling too early. If ex-divy is Monday the 30th they will miss the divy. Not thinking people!
---SP near the bottom of the BB channel as well.
---5i comments may reflect a sentiment change for the company & the oil sector in general along with news that OPEC says oil production cuts are too stay for 2018 at least.
---oil price may not fall that much until Aramco IPO occurs. Saudis want oil above $50. until IPO done.
---expect a oil price correction on inventories over the next month & then we will see how far CPG et al fall. I suspect a quick short sharp fall, but equally quick rebound.
---volatile times in the Q4 with tax loss selling & buy the dips mentality.
carlos