renewing the faith on mad, page-5

Rocker,

Never lost the faith and am pleased to say that the first of my rebuys has executed.

May seem silly to some but fully prepared for MAD to go lower (significantly) with further (increasing sized) buys in the queue as dialogued with Meatpuppet. Of course would prefer it simply to bottom now and be just as happy to buy on the uptrend (not trying to pick a bottom and make a big buy at that price).

Macro issues still in the drivers seat at the moment:

1. OPEC meeting - prediction is nothing happens (production quota's not lowered) OPEC pumped 31.5MMbopd in May up about 1.6 Mmbopd more than production limit agreed in Dec 2011.
The oversupply continues to be a drag on pricing

2. US EIA signalling demand has increased in USA - inventories down about 200,000 bbls and refinery capacity up 0.1%

3. Greek election this weekend - Whos knows what that means?

4. 5p+1 meeting next week - same thing - whos what to do with Iran...

5. Will crude break $80?


GLTA


BTW, Christmas in TX, even in the warmer/sticky Houston area "aint the best time to visit" - lived in McKinney (part of the DFW Metroplex) for over a decade.