Doc, as much as I would like to believe consumption will deplete oil reserves somewhat, I m looking at the article and its dated Mar of 2014. I just cant believe oil stocks are going down the toilet...why did the market all of the sudden turn against oils...supply exceeding demand, world growth slowing ,china, brazil, etc...usually seasonal don't take effect this bad...last yr it dipped but not tanked as bad...I think oils are headed lower 08 scenario then bounce but short term shale players may be in for a lot of pain...I mean 8-9 % downside moves are painful to watch...young companies with small market caps may not weather the storm....one day the world is going to hell in a handbag the next its all rosey...Most my friends say its the end of fourth quarter and companies are closing out the books for the yr...Ive been in this industry for many yrs and it usually doesn't come this early...cutbacks have always occurred the first of December....Im no wall street guru but I really think there is something lurking and the bottom of oil is yet to be seen.
Don't base trading on my theories Im just thinking with the global slowdown there may be more downside/pain for oil stocks..I closed my position at the moment and will look at the metrics later on....I could be wrong but downside is what Im sticking with.
