Fedman

Crude Sell-off: Solid Entry Point into U.S. Oil Majors

Thanks for your response. I believe that Oil and NG are great plays for the next decade. My comments were focused on this particular point in time being an "entry point". That makes it more short-term in horizon. If we're looking 10 years out, then 147 oil is an entry point IMO. But I do think near-term we'll see better entry points.

I agree with you fundamental points, mine was just about equilibrium. Great comments by many of the posters here!!!

Crude Sell-off: Solid Entry Point into U.S. Oil Majors

You should stay in oil, but only if you have an estimate for what the price of a barrell of oil should be. Is it $200, $150, $75? The recent run up shows that demand destruction does occur at some point, just as a longer-term higher average price will show more development and investment on the supply side.
You say that there have been only small changes in supply and demand, but there has been a huge change in price, which likely overshot the equilibrium price, just as the current reversal will likely undershoot the price.

So for me, I'm waiting until hurricane season is over, summer is over, and winter heating demand hasn't kicked in, and then, depending upon the price of oil and Ngas, I will go long. I don't think it is the time just yet.

It's Hard to Be a Bear: Resist the Urge to Buy These Scarred Stocks

I'm a modest buyer at these levels. I've heard over and over again about the lessons of market timing and at least I'll be able to crow that I didn't buy at the top. LOL