First, not a long message at all and welcome back. It's been awhile and I'm thinking much has changed around here since the last time you posted. I enjoy intelligent dialog with anyone that has an agenda that reaches further than pumping or bashing the play at hand. Those are also great questions concerning my EW analysis and I'm not just saying that. Absolutely legitimate and fair without sounding like someone just trying to pick you apart because they have a differing opinion. It's late and your answers require a little work so I'll reply in the morning but I will reply. I'll also address your question on rig counts and oversupply because that's certainly a big part of what's going on.
I posted this chart last night and got a few questions for CBeeson. I hope I understand what he's asking because I promised to reply. Now I want to answer his questions but I think the best way to go about this is from a general approach first.
Questions 1. How do we know 4 is done upward and not going to r1?
2. How do we know 4 is not actually (1), where it dips to $54 range for (2), before going up to (3) at r1 high 60's
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