Question for the board:
My feelings on the current sp trend is it is about to enter new higher levels due to the myriad of data as of late:
**Oil about to test $65
**Opec holding and stating $75 by year end is likely
**C-4 news of revised water saturation s/b anytime now and Dana certainly sounded very positive about possible additions to reserves (he stated that the range of water saturation is probably 15 to18 percent instead of the 28% originally stated)
**huge build in todays release of crude @5.4M vs. expected 700,000 build
**weaker dollar
**imminent inflation
With all the above positives plus the new spirit of optimism in the equity markets, I feel this will engender a new trading range way north of current levels
As everyone knows, this stock has been stuck in this trading range for some time now and alot of traders did very well; the question is: Is it time to stop trading and time to hold? I think yes...anyone agree?
Best regards to all!
