whats price action telling me today..., page-2

So basically you're saying that anything can happen. Thx mate.


I actually disagree with you that the disadvantages outweigh the advantages.

We've had just in the last few months:

CEO refresh with a focus on cost reductions - we've already seen redundancies (capex down 57%, costs down 10% to ~$14/boe, STO is FCF at $32/b in 2016).
Assurance that debt maturities are sufficiently far out (substantial maturities in 2019) and STO is cashed up after the cap raise.
The oil price finding a temporary bottom with $10 barrel callers now looking rather silly - although medium term volatility should continue to be expected.
Writedowns behind us for now.

I may not be as sophisticated a trader, but as a LT value investor I'm enjoying how the fundamentals look today (my view is that global oversupply will be sucked up this year - China just showed some healthy import numbers, and as resilient as shale has been, the writing is on the wall).

I'm actually feeling good for the next 12 months, and I've only been accumulating since October.