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Chinese "enhanced oil recovery" specialist SinoTech Energy (CTE) bucking the sector trend today,...

  • Thursday, June 23, 2011, 11:22 AM ET
    Chinese "enhanced oil recovery" specialist SinoTech Energy (CTE) bucking the sector trend today, up 7.8% after calling for $20M in share buybacks. Energy is still leading the downward charge in stocks after news of the IEA's oil dump (XOM -3%; CVX -3.3%; BP -2.9%).
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    There is no need to trade down oil. The fact oil doesn't even drop below $90 is bullish and begs the question what happens after Obama's over reaching to dump strategic reserves for a month. It would be funny to see oil reverse and hit over $100 on his scare tactic.
    23 Jun 2011, 01:31 PM Reply Like
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