RE:RE:RE:VrnCitizen13 wrote: I sold everything oil related at the latest " high" So tired of the rug being pulled from under these stocks . I would wait until December to buy back into any of them because if Saudi starts another purge, watch out below. The USA has been filling the void made by the OPEC cuts , as they like to do , and will potentially be in for another hurting . Major, major hurting. Again, they never learn . The big guys will survive, the smaller independents will be flushed . Again.
Citizen's plan is EXACTLY like mine. Only thing that would change it is if Trump got elected. Then all bets would be OFF. Trump's "drill baby drill" woul make US oil production go even higher than the record breaking levels it is at now. 96% of Canadian oil goes to the states....WCS go to negative again for a while. It's happened before. With a Trump win I would not touch oil, any oil, with a ten foot pole.
The sector would be uninvestible for some time due to widespread bankruptcies...That's happened before too! https://www.oilandgas360.com/energy-bankruptcies-back-on-the-rise-in-2019/