The Bigger Picture Dont get me wrong gang I love this company it is powering ahead. I dont need to post any statistical or technical data as others have done an excellent job of that and I thank all who contribute. My contribution is the wider picture. Depending on what you read the DOW is about to have a pullback of at least 5 to 8% and who knows where the ASX will go. Oil is heading down to about $93 to $96 u.s. unless Iran attacks or is attacked. Oil supplies in the U.S. are in surplus for many reasons including some refineries being mothballed or on limited output so this is putting downward pressure on oil. Data from the U.S. China and the EU is more negative than a lot of media are reporting. The oil surplus is only temporary I feel as the peak season is approaching in the U.S. and they are the biggest oil users in the world still.
SEA Our little oiler is having a stellar time production wise but is being hit by large organisations doing deals. AUT is also down about 20c and Easter approaches so a slump is on the cards. GOOD NEWS I feel most of the negatives are temporary and China is still tipped to grow at about 7%. Having said all that Im waiting to buy some more when I think SEA is around the bottom.
Love SEA MM
SEA Price at posting:
76.5¢ Sentiment: ST Buy Disclosure: Not Held
