The best thing about SXY is that it has tremendous growth prospects.
Oil will go to $70 quickly as realisation sets in.
The world will start to realise that 3 years of capex cuts is enough. The greenies have sort of fooled the establishment and it will be a double whammy. Have a look at Nigeria, Brazil, Venezuela, Libya and a very emotional ISIS and you have a recipe for disaster.
In the meantime Senex are planning carefully for a return to business. And if things go wrong oil could go to plus $200 overnight. Believe me. Tell Turnbull your storage is not enough.Only 35 days Australia. You need 90. Get real.
The tide is turning....Saudi crude inventories down 5 consecutive months. The media have just got hold of it. This is big news.
I am long on oil. Get on board. We have waited nearly 2 years for this. Time to get the big fishing nets out.
SXY Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held