I will let it play out and not worry about it. Oil could go lower could go higher in the short term but bottom line is it will not stay down here for ever. We have seen over supply issues many times over the years and they have worked themselves out. In 86 their was an oversupply issue. Then again in the 90's they had issues of over supply and then again in 2009. Right now the bearish trend on Oil is so big that when oil finally starts to reverse there will be some huge shorts that do get caught with their hand in the cookie jar. That is one reason I really like PED here. They are working very hard to be a very low cost producer and so far they are showing they can do it. Low cost producers can still make money. Just like the gold companies that have proven they can still make money on lower gold prices. Again We watched solar stocks go down on over supply issues and they came back strong. Coal stocks look to be doing the same thing lately. Short term yes we could see 65 or 70 who knows. But again when the other side of the trade comes around it will move north fast IMO. As I always say people have to play it how they feel best works for them. Good luck!
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