Unbeilable buying opportunity-vaccine near-shale doneIt's very easy to short during pandemic which we all have done. But shorting is over soon. As a short seller you cannot risk the potential of oil price spike with a vaccine announcement. Trump will rollout rightly or wrongly before election. That is within 60 days. Russian and Saudi are helping trump get re-elected by keeping prices low. But if Trump wins its pay back. He couldn't care at all about the people or economy. If Biden gets in, Russia and Saudi will still drive the price up because Biden won't stop them until the inauguration but he is anti shale. Oil will spike in the next 60 days after nov 3 election. Then the vaccine rollout will start for all of next year and with the grace spreads and shale oil depeletiion, it will be an unbeilable next year for oil companies.
ATH, with capacity on transmountain that is moving along nicely, is just doing what we were lucky they were able to do, survive. Vaccine announcement, small spike, election results huge spike. The min oil hits $60, this is $3.00
you will see 29 mill shorts leave in the next two months.
https://www.jwnenergy.com/article/2020/5/25/oils-sudden-rebound-exposing-achilles-heel-shale/