My thoughts after today...
We need Brent to hit $60 plain and simple.
No-one seems to be paying attention to the companies' fundamentals.
When Brent comes good, both will snap the elastic band holding us down, shorts will cop a whack and they'll aid our return to sanity ;-)
With evaluations of 50c+ based on the fundamentals, the only thing causing fear seems to be the oil price. Logically this doesn't seem to make sense either seeing as SXY are hedged as well as contracted for their gas but then the market often disregards logic.
Trading range of 30 to 34 imo for now. More than happy for anyone to debate my theory.
It's just a hold and wait game now. GLTAH.
Ann: Appendix 4D and Half Year Report, page-65
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