Some say worthless shares some say great investment at these prices. If your looking to make a buck in the next 6 months they could be very well worthless to you. If you are looking 3 to 5 years ahead most likely you will be very happy you purchased at this level. Never trade with emotion.
Oil will only be free if we are on the eve of destruction. It will it be free when you have to steal it. We are close to the bottom and buying in the next few weeks and waiting for a year or two will play out great for the patient investor.
Catching allot of investors off guard. A few weeks ago when ERF dropped to low nines lots jumped in. And now incredible they are bailing and taking losses. My game is to add more and lower my cost basis and wait out the storm. Lets see where we are at in 1 year.
I see demand as decreasing, To name a few examples, with China's economy faltering and Iran ready to add millions of barrels a day it doesn't look good for the near future. It is hard to hope for a middle east clash or a natural event to get oil prices up. I do believe it is or will be a good time to buy these oversold energy stocks but it could be rough riding for some time. IMHP