Just an opinion and datapoint for me G123. Whether its honest, biased, complete fallacy I leave up to the individual.
Read lots of Art Berman stuff over the years too. He thinks shale is a ponzi scheme based on capital requirements and whether those 25yr EURs ever get reached. So too David Einhorn.
I look for confirmation and there's a lot that has to happen for oil to be over $50 and over $80 by Dec'16.
IMO, at present its about whether the entry point justifies the risk for a new long position and whether existing long term positions justify holding. Can't speak to shorts but they have been raking in the dollars for past couple of years.
GFTA.
SSN Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
