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Scott, Very interesting….this would make sense because Eur/USD is getting close to it’s all time 50% retrace level which should be very strong support too, Therefore the risk/reward for a swing trend to the trendline makes perfect sense.
Also selling right at book value…
Scott, But I wonder, why Italy’s E w/ Kazakhstan’s government issues. Vs Frances TOT? Was it the miss on TOT’s last qtr? TOT looks like the better company. Yet. the problem with the entire sector is that it is so Speculator heavy vs actual demand, and when it washes out (hopefully not on shore ala BP, lol) it may get real panicky….and go free fall…but until that happens….You say E, and I say TOT…Tomato, Tomaaato….hey have a nice holiday weekend.
and TOT has partnered with CHK on the Marcellus … E is a fine pick, in fact it was my first inclination until I looked over TOT.
Oh the irony, Teahouse On the Tracks = TOT… get it?
that stochastic looks bearish
Scottie- i love your show man, keep up the great work and wish you all the best.
Your mother is a bear shitter and will be whipped.