RE:RE:RE:RE:Oil stateI think there is good news coming for oil but it seems like it is at a glacial pace. Based on the price action of the heavy oil producers so far it also seems like the market isn't convinced ( I own ATH which has been a dog) either. Shorterm I wouldn't be surpised if we dip back close to 50$ WTI prior to resuming the uptrend. The inventory and shale production #'s are disturbing in the short term. People keep arguing Shale will max out, yet it never happens.
CJ keeps looking like it wants to break out and then retreats, so does WCP which has pierced $5 three times in the last couple of days only to fall back. I've averaged down to the point where I'm not comfortable owning any more of either of these stocks so I'm just going to be patient and wait for what I think is an ineviatable rise in SP.