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michaelmerriman

02/03/15 3:18 AM

#324 RE: pete807 #322

I bought in around these prices early January and you, having weathered your tax-related waiting period, are no worse for the wear buying now. If anything you've benefited from witnessing that the bottom has set in and the stock has been able so far to maintain a pretty steady climb out from the depths.

Up, up and away we go! Until the earnings release at least...

Oil may not have bottomed yet but in the shorter term, I believe this stock has. I do agree with most of your conclusions on the crude oil front, though. If the USD remains strong, oil prices will be hard-pressed to return to their $100+/bbl days. I'd even be surprised to see $75-80/bbl return until this US bull market weathers a bear and rises again. The bull can't run forever and a serious correction will certainly drag oil prices down with it.