RE:RE:Cenovus Energy Within the $ 14 / Share Handle !!!onec007 wrote: 14 will be broken on either today or tomorrow. Earnings will be massive but more importantly outlook. I expect really great outlook wcs is over 55 now!!!! Driving season around the corner Iran sanctions (still don't trust trump) Oil is still entering months of strong cyclical trading until june Golden cross China's economy not hitting a hard landing Hold on tight everyone finally shorts will be covering!!!
Lets not forget:
1) Venezuela crisis worsening and coming to a head, likely will result in armed conflict and loss of remaining exports
2) Libya civil war situation looks to be prolonged and is likely to ultimately result in production outages shortly. Fuel getting low for exportation.
3) Algeria protests are not slowing down. Military has started to express frustration and this may also come to a head shortly
4) Iran risk of retaliation. They have repeated the threat of shut down of strait of Hormuz again.
5) Shale production growth is by all accounts slowing. Likely faster than initially believed.
All in several million barrels are at legitimate risk at the moment. More than OPEC+ can make up for.
Chances of an oil shock are rising by the day. This would mean triple digit oil for a time followed likely by recession. Get in now and get out when she peaks is the play.