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North American Energy Partners Inc. Message Board

  • katehaluk katehaluk Jun 23, 2011 10:12 AM Flag

    MJ, Congrats

    Congrats!, You have been calling for Oil going down as QE ends and dollar strengthens.
    SCO is up 8% today more than my triple bears.

    I also expected Administration to try to lower Oil prices , and today they announced plan to release from the strategic reserve...

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    • I just heard an energy analyst say the release from the reserve will be minimal impact compared to overall impact of supply-demand as it is only equivalent 8 hours of World oil consumption.

      II would be inclined to take profit (20% isn't bad) here and you could get back in if there is little bounce-back in a few days, but you are the boss.

    • Thanks Haluk, but I'm not taking my victory lap yet. SCO bounced $2.00 away from my sell order, and now is a little more than $3 off. Not sure what to do really. My sell order would net me an almost 25% gain, but I can see oil going much lower. Guess I'll just keep watching the chart and doing what I do.

      You know I've been expecting Obama to try manipulating the oil market for a long time. The only surprising part to me is that he waited this long.

 
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