Just an opinion and datapoint for me G123. Whether its honest, biased, complete fallacy I leave up to the individual.
Read lots of Art Berman stuff over the years too. He thinks shale is a ponzi scheme based on capital requirements and whether those 25yr EURs ever get reached. So too David Einhorn.
I look for confirmation and there's a lot that has to happen for oil to be over $50 and over $80 by Dec'16.
IMO, at present its about whether the entry point justifies the risk for a new long position and whether existing long term positions justify holding. Can't speak to shorts but they have been raking in the dollars for past couple of years.
GFTA.
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