based on TA, I think DO will see 30 or very close in two to three weeks. Any other predictions?
For my own education, I'd like to know how one can apply TA with any confidence to anything in this sector? This is a commodity, and a pretty unstable at that right now. To me, there are just too many outside influences on OSX stocks for TA to be accurate. Now, what I know about TA you can put in a thimble, that's why I'm asking the question.
My prediction? I'll be able to buy this stock for $21-22 before it ever sees $30. This is December, we're in the middle of tax loss season. The downward pressures on these stocks is heavy. The underlying fundamentals of the oil patch stink. We're in the midst of the largest confluence of bad news to ever hit a market sector. The doomsaying, hand wringing, bloodletting, death knoll crescendo is at an all time high. For contrarian investors this is an opportunity of a lifetime. Do the right stockpicking now and you'll think you were a Saudi prince in two-five years. These stocks aren't going to pop 30% in the next two weeks though. Jan-Feb maybe. Probably. Just like the pops off the last two bottoms. But unless we get some positive change in the underlying fundamentals we'll pull right back again, or at best, find a basing point where we'll stay until demand catches up to supply.
Cheers -
RC |
