Time for a new thread.. sorry Davo!Depending on your point of...

Time for a new thread.. sorry Davo!

Depending on your point of view (those that want into MAD in the high 70s & low 80s) the price of oil is likely to pressure MAD's SP

snippet from USA last night....

"NEW YORK - Crude-oil prices fell 1.2% to a fourth-consecutive 2012 low at $92.81 a barrel Wednesday, as U.S. crude inventories stood at a 22-year high.

Crude-oil inventories in the world's largest oil consumer have gained more than 10% over the past eight weeks and are at the highest level since August 1990.

"We don't have physical [supply] tightness to limit the downside," said Tim Evans, analyst at Citi Futures Perspective. Crude is "not going to go up until disappointed bulls are done liquidating long positions," he said.

Some analysts have said technical charts show a break below $92.50 a barrel could clear a path to $85 a barrel, last hit in October 2011.

U.S. benchmark crude prices have fallen 12.6% or more than $13 a barrel in the past two weeks on rising inventories.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange settled $1.17 lower, at $92.81 a barrel. The settlement was $1 above the session low, which was hit overnight after the American Petroleum Institute said crude-oil stocks rose 6.6 million barrels in the latest week. That was well beyond analysts' expectations of a 1.4-million-barrel rise.

But the more widely watched government data released midmorning by the Energy Information Administration showed a more moderate rise of 2.1 million barrels. Still, prices held much of their decline."


Could be all that's need for the retracement to extend.

Now keep in mind that MAD's output will be fairly flat this Qtr so with lower prices the comparison on net earnings wont look as good because of no bopd production growth.

With acceleration of bopd production in Q3&4 and recovering oil price (say $100) and MAD ought to easily overtake the 52 week high

All just the ramblings of a punch drunk investor....