Peaks and ValleysA glance at the WTI chart of the last year displays 69 significant peaks and just as many valleys. Oil is a volatile commodity and oil stocks are just as volatile. Right now we are in a valley.
These peaks and valleys are only important to day traders and short term traders. Any one who says I predicted this share price predicted the collapse in WTI - BS! Anyone who says beware of a falling knife is extrapolating a three day chart!
We might get some more decline today in WTI then oil will stabilize and reverse and the valley will be over. Good luck playing peaks and valleys.