RE:RE:Buy, buy buy We all know about natural gas and warm winter and Freeport outage, etc. Nothing has changed here since last week to explain the recent plunge in many oil and gas equities.
I was referring to oil fundamentals which are strong. Oil prices are not collapsing, they have declined in the last few sessions but stay within the recent range.
There are two markets, physical based on the actual supply and demand which, I believe is very strong. The second much bigger in volume is financial market. This market is causing a lot of volatility and is currently ignoring the positive supply/demand data and reacting to bank failures and general fears and concerns.
We are not in a position to predict and time severe recessions and demand destruction. At least I am not and if it happens, I am willing to ride it out. That's why I was buying stocks that were hit the hardest, including this one.