will continue to rise, especially as COP has been upgraded to outperform and people are realizing this is a great bargain!
Cop is the best stock in the energy sector, it is at the cheapest valuation and will continue to rise going into Friday, I am sticking to my prediction that this stock will be near 84 by Friday and next week should regain its balance near its 52 week high, been oversold on nothing, and people and articles are coming out that are proving that. Just in the past day I have seen 4 positive stories, by seeking alpha, yahoo, and the street about COP. Also was upgraded today. I would not be surprised if we are up big tomorrow, like 2-3$!
The progress in Halifax, Nova Scotia will validate the success of unconventional drilling. Such risk is offset by the project in Eagle Ford, TX. The market is still searching for the direction, down 10%+ or taking out 2000 on S&P. I tend to agree Bob Doll for S&P 2000, then, this 5% correction is over and crude back to $100+/barrel. The inventory surplus report will be shadowed by the Geopolitical events like Ukraine and Asia Pacific. The time for investors to pick these well run companies with strong dividend payout like COP.
A little bump here and there, with the support of NY Fed to flush out these short sellers, the market is heading higher. Watch the summary below and good luck.