It would not surprise me to read something like in the next few months. "Joe Bulshite an energy "expert" with the leading broker Goldlynch stated that he believed that the market had overdone the POO on the downside. Joe has been feeding negative stories to the press for the last two years (to support his short positions). Joe's stated several factors why he has suddenly turned bullish on the POO (after he had already taken out several long positions). Some of Joe's reasons for this bullish change include major slowdown in USA shale production, Iran not living up to expected oil production increases, more and more companies not viable with the current POO, major companies have already slashed over $500 billion from oil & gas projects, on top of this vehicle registration in China and India has increased demand and USA is also approaching the peak driving season. . Several other leading brokers and experts are now inclined to agree with Joe.
CVN Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
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