A lot of fear-mongering in the press about the price of oil. A lot of investors on investors on HC getting sucked in.
Oil. Just a chart. Just reality. Not tainted by fundamental scare stories.
Price based and has now jumped the creek. Look at the volumes in the base. Should retest $54 and then move up. This is nothing like the IO collapse where it never based or rallied. Still, O&G companies will certainly be looking to improve margins.
Look at the chart at the top of the thread. CKK was actually recovering until the price of oil began to collapse last July. Then CKK also collapsed with sector sentiment. In essence all babies were thrown out with bathwater.
I think that this is why the recent CKK developments had in fact been put on ice for the past few months. CKK has obviously decided that now is the time to strike.
EAS are also nobody's fools. As I've mentioned, professionals buy at the bottom when retailers have given up.
Should the price of oil rally further as I expect, then I'd expect another significant tailwind for CKK.
CKK Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
