Still nice trading window hereThere is still a lot of shares well into the money here coming off last year lows.
I think the dust settles next week and oil slides back to support around $50.
There is still a lot of trepidation over virus concern and vaccine roll outs, yes we all hope we round the corner with this terrible pandemic but IMO it is a very large corner and will take time.
I expect more travel restrictions even with the current glimmer of hope, will we see a third wave as variations of the virus continue to emerge.
No easy path ahead, maybe there is a deal - maybe there is not. Maybe a lot of shares got dumped and we are the new bag holders - until management clears the air we are all in the dark.
Oil looks good moving forward - just not next week, maybe even not next month.
In this light I believe there is still a great trading window open for all oil stocks where stoick pickers can pull 10 - 15% .
Leys see where we open tomorrow, if it`s a penny higher there will be lots of selling - if it`s a penny lower there will be lots of buying.
An educated guess or a throw of the dice at best.
GLTA