Now is the time to jump in
http://www.marketwatch.com/news/story/oil-traders-short-sellers-reach/story.aspx?guid=%7BB6AD6804%2DB0FD%2D47F7%2DAC50%2DE5108E02251E%7D&siteid=yhoofSpeculators drove up futures prices, for now, not the demand. There is a supply:demand issue worldwide, but noone justifies a rise from $10 to $150 in just 5 years. That is insane!As oil falls, FLR is at great risk of having contracts cancelled since some(like the oil sands producers) won't make any money at lower oil prices. Even if this isn't reality, the perception is for it to happen, so selling occurs.I would get out of FLR at PEs in the 20s
The oil sands makes money as long as oil is above $24.00 a barrel. More oil sands projects on board as Saskatchewan opens up its fields which may be greater than Alberta.
stop selling. Now the Instiution will step in and save us....