Hardly the stuff of redemption being made here, but still; BAS rallying 34% inside of two days feels good.
Crude oil is running higher; Brent is pushing back above $50 and WTI is chasing its tail.
I can’t tell if this is just a relief rally or the start of something special. The move is strong though, I’ll give it that.
We were so overextended; companies were going for peanuts. They can’t all fail, physically. I mean, oil demand is still growing folks. Someone is walking out of this alive.
Let’s give it a few more days and see what happens.
If you enjoy the content at iBankCoin, please follow us on Twitter
Word up!
You should have stuck with your “I don’t believe it” attitude
Gartman just went long oil, we’re screwed
I’m recently long BAS, ETE, PSX, CVX and GBX. Not all directly tied to the price of oil, and I’m not sure we are all clear here, but these are buys on a medium/long-term timeframe.
Any thoughts on your old stalwart, ETP here? Market seems to be rewarding their recent acquisition.
I like ETP still.
I can’t get long any more oil though, until this patch clears up.