cvn position

We all know cvn is a good company with good fundamentals, management, growth prospects, cash in the bank and future reserve upgrades and production.

We also know that insto's like JP morgan and others are in a world of hurt and are grasping at every little tid bit of cash they can. Cash is king no doubt and until these insto's re group and count their cash nothing is going to happen. The point is we are a pile of little fish swimming against a king tide. The question is how long will this king tide last and what will be swept out to sea and who will stay onshore. A dividend payment I think not, it would serve no purpose, share buy back, this is a growing company looking to expand they too need there cash in the bank to look for undervalued prospects for the future.

I think once all the insto's slates are clean we might see a turnaround. As far as oil prices go I don't believe for one minute that it will not head up again in the near future. The market is too fickle right now.