Your assessment of the oil price picture is quite correct, TWICK, today was nothing more than the proverbial "dead-cat bounce" as the usual gullible gang bought - yet again - into the myth that OPEC is - this time, for sure, oh yeah! - going to do something to cut production. But alas, reality rears its ugly head - it always does - and when this round of euphoria wears off, we take the sub-$10 plunge. When we do, and when OPEC, producers, governments, even consumers are all starting to panic over the price of oil, THEN we'll see the final bottom. Not until.
But there's good news, TWICK; this is only going to affect crude and its products, which of course are mostly gasoline and heating oil. Natural gas is slowing moving into a private little bull market of its own; now, if someone can whack Mr. Kesonen upside the head with a 2 x 4 and get him to stop fixating on stripper wells and concentrate on drilling for gas on Matagorda Island this stock will maybe have a fighting chance, again.
$^) |
