Time to go short I thinkDow Jones price to earnings is north of 24, levels not seen since the dot com bust of the 2000s. The Saudis and OPEC plus will reopen the spigots soon to profit, oil stocks have also run up too much too fast. The relative value is there but an impending Dow crash is coming and that will send oil down as a ripple effect.
A major research firm that eludes me but was just on BNN sees this as a supply issue and once the Saudis start pumping we go back to the $40 oil environment. Demand is not ramping back up enough to offset the massive supply that will renter the market.