<Oil will be the main source of energy for the next 30 years, I plan to buy the majors as they sell off, including TOT. The euro dollar situation will be interesting>
I agree with you and unfortunately began accumulating on 4/21, TOT closed at $57.89. Seems hard to believe that was only a little more than 2 weeks ago. What I didn't foresee was the precipitous drop in the euro, which is down > 5%, but TOT is down over 15% since then. I averaged down a couple of times, my last lot was @ 52, but Im keeping my powder dry now. Excluding 1Q/09, TOT is at a 5-year low, which is just incredible. But what I find extremely troubling and inexplicable is TOT has lost more than BP the last 2 weeks.