The news has been to pessimistic. The shorts were in record numbers and the market always over corrects up and down. 5 banger here by spring.
they will run the next few weeks. The stock will double and the names disappear here. these shorts are not stupid but very greedy and oil will be the upcoming play in the markets., The futures show it today.
Inventories down, OPEC calling 70 dollar oil, WTI trading over seas, UPSIDE goes to oil , risk/reward, Even GS is not that crazy to think it can stay below 40.- OPEC assumes crude prices will rise by about $5 a year through 2020. 70 dollar oil is the new 100$ oil. , There have been $323 billion in announced or proposed oil-and-gas mergers so far this year, the most on record for a similar period by nearly $100 billion, according to Dealogic. Millionaires and funds are buying Futures trading much higher+++ INDUSTRY calls BOTTOM and press better lately., ) A weakening dollar added support for oil, aside from bets that the U.S. oil rig count could tumble again after yesterdays news. M&A activity in the oil-and-gas sector has continued apace despite a nearly 70% decline in oil prices since early last year. 25% last month alone. ,,,, Commodities are known for boom and bust and the oil is at the bottom of the pattern trading range today..... coiled ... Up on a down oil day is death to shorts. technical bounce. 9) Shorts over leveraged and must cover. 4 day up chart would bring margin calls.
Burn these turds at 1.5$ . shorts are in the money now. This has to go past 1.5 by Dec 18. New game then and shorts are running out of time before oil goes up