<everything else rises (except oil and oil stocks).>
As I've alluding to, the MoP has some tooth fairy stories and games they are trying to play to spook speculators in similar manner that they did on base and precious metals. Like in metals the specs had gotten a bit too excited about their positions too. This should set-up the same kind of gift (actually energy stocks are already cheap, just get a bit cheaper is all) as was presented three-four weeks ago in metals (when many were focused away from metals, and on energy instead). That's because fundamentally, little has changed. Stay tuned, and watch for broker downgrades in energy stocks, that'll be the bottom. I doubt if this will take long either, too much "shit happening" in the real world outside of Oz.
Some excellent energy stocks and support levels:
CNQ: 50.40, triple, 10
CRK: 18.50, double, 10
PXD: 30.20, triple, 10
CHK: 12.90, triple, 9
RDC: 20.60, triple, 10
GSF: 24.90: triple, 6 |
