If that gets touched - COP falls another 15% and that just might happen. COP can then buy back shares at $38 and sit it out for 3 years.
Americans will never allow more consolidation in the Airlines or the Oil companies. We have seen this movie 3 times and it's why today's manipulation and price fixing is so rampant.
$38 is the next stop and the oil pits are hoping that has some level of stability. No one really knows where oil could fall other than to look at the bottom of $28 last time around. Anyway - COP next stop is 45 and you can print this post on some fine Habana tobacco leaves and then smoke it.
and Russia cannot afford to be cool anymore...The Babooshkas' are back to eating cat food and Borcht with no electricity or running water. Everyone EXCEPT the Saudi has to sell - and the Saudis' want to sell...30 -35 is inevitable/
I would agree with you - I did not expect crude to fall this fast in the last 3 trading days. Until it bottoms for real....these stocks are falling - it's that simple/ My hesitation is that crude could hit 35 with Iran on-line making up for lost time.
but they never considered the - "You have to sell your oil to eat" on the flip-side. Oil producers are impotent to stop the slide on the price - for the simple fact - they HAVE to sell it - every month.