Steve,
Tres bien. I appreciate the thoroughness and time you took to reply. Your comments about crude oil futures were particularly interesting. Those of us in this sector (where the world being awash in oil has forced a downturn which has moved some very well known stock to historic lows in just about 9 months), are looking for the bottom and the long road back. Try these numbers, for instance:
GLM: 36 to 9
RON: 80 to 20
OSX: 141 to 47, or so.
I was just trying to see if you had any technical insights to share, and again, appreciate the well thought out response.
The telltale signs are not there for a full recovery as dayrates are not real strong. However, with North America coming in to the season where the most oil demand is generated, we might see a firming of oil prices. At least, that's the hope in the oil patch. Until Asia, and other emerging nations get back on line with solid demand though, our top end is capped for a while.
Bon chance,
Steve |
