RE:RE:RE:RE:RE:RE:RE:bullish is a relative term
I think that you are bang on Joseph with more egress being the factor missing to get these stocks going. This would also calm down Permian producers as more supply would make it their way but, help our differential still stay at a reasonable level.
Apparently that this injunction decision on Keystone XL is due this Q1 so there is only 12 trading days left! A favorable outcome would certainly help with sentiment but, I am sure that the eco-terrorists have likely some ammo left to try shutting it down.
I mentioned patience and maybe that it is indeed what may work here. For these stocks, they have gone through 2 cardiac arrest over the last 4 1/2 years or Jan-Feb 2016 when oil got down to $25/barrel and last fall when WCS approached zero along with crazy light discounts. Going through most financials you can tell that in Q4 2018 most companies and investors were looking straight into the abyss.
That is an enormous amount of pain over a really long period of time and it will take a long time to heal. 2008-2009 feels like a walk in the park compared to that.
You really have to wonder how many of us will have the stomach to stick with these stocks if they go up 50 to 100% which would put most of them not even to where they were after the heartbreaking news of TransMountain last August...
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