Under $3,40 now what

There are lots of problems not just with STO but the market

1) US politics out of control and under attack
2) UK and german elections
3) Aus govt policy around east coast gas
4) whats hony and enn up to - lurking in the muddy waters !
5) management of STO
6) well documented issues with STO
7) oil market - dynamics have changed tho opec still control 95%
8) dip in aussie mrkets - moody downgrde
9) on a relative play STO being dumped

thus its now under 3.40 but i think we might see further falls - i dont pick bottoms but it could go dwn to say hello to 2015 low so we should be careful 3.20 to break first b4 $3

On the other hand govt may come out and change policies - hony/enn may get excited - ??

so the most logical conclusion is to wait and see if anything becomes clearer and not get excited on the first rally.

if one takes a view of a low of say 2.70 - then theres your risk if cant resist to go long now.

it is getting low so options might be a good play at this point as well - but remember it can be lower for longer its a tanker not a speedboat.