whats price action telling me today..., page-36

Yeah P.
I get the oversupply issue as being publisised.
Theories abound on why that is.

I can see that there is manipulation of the market and don't disagee with the various conspiracy arguements and motivatios...and when I say conspiracy I don't mean it in an X-files derogatory manner ... I mean corrupt collusion. I mean interest groups deliberately manipulating the market.

Like I said earlier ...somewhere... I did a quick calculation on some Wikepidua numbers and concluded...inacurately no doubt...that total global storage capacity for Oil is like roughly a 1 month supply of global consumption if all oil production stopped. Forget that this can't happen bar Armaggedon i.e. oil production ceasing for the purpose of this exercise.

To me that means that the Globe just can't store that much oil. It's not yellowcake.

Now oil importers are getting bargain prices and so we are getting cheap fuel prices...yeah!

But the exporters are losing plenty. So once the shoring up between the big boys is hopefully peacefully negotiated (because the alternative war scenario postulated at times is too horrid to contemplate) in terms of who gets what cut of the production is tesolved then ....if I was say spokesman for the big boys well I'd be saying something like ... well hey guys you like knew it was coming right? You've been getting the big discount lately but now that the boys have concluded our negotiations and we're ... you know...kinda of happy with it...well it's time you guys need to start paying up again. Maybe a bit less because we don't want those pesky bankrupted high cost unconventional guys coming back. Pain in the asses they were. Doubt they will cos which dumb ass bank is gonna take the risk of speculating whether their going to be able to produce a prifit especially ehen yhr big boys have dhown them ehat a bump and dump can do to the OP i.e. like what's happening right now?
So that's the broad stroke of my sentiment as I see it presently. So as this relates to SP for STO I see upside movement due to good assets...improving management strstegy...debt kinda high but non threatening until 2018 by which time they dhould have reduced debt to very manageable levels and OP is going to be much better. Isnt current expert opinion somehere ariund $80 a barrel or more in the medium term? Now if it was me.... it'd be more if I owned the resource and could get me new mates to put the squeeze on volume output comfortable in the knowledge thst my bankers are happy to back me but not my schlep high cost unconventionsl comprtiyors.

Now how's that for a conspiracy?

Ahhhh...like I said above ...hopefully one day I'll actually make a quid on a stock.