Andrew McCreath on BNN---constructive on oil sector
---big beat by Calfrac & positive for Trican due to report so says McCreath
---positive sentiment by McCreath (oil is inching higher) & others not shared by the street, because with the price of oil is where it is now, has in the past resulted in hedging production, borrow money to drill more etc., but the street believes no more capital will be coming from Wall Street to do more drilling...so says McCreath.
---if there is no more drilling (maybe active drill rig numbers go down) price should firm up (as long as inventories stay level or go down. Don't forget US production dropped a bit according to the last report.
---frackers should do good according to McCreath & that should spread to all in the oil sector eventually.
---instead of a double bottom how about a rounding bottom!
carlos