Tide strong the other way today. Lots of shorts getting squeezed by Alcoa earnings coming in strong and talk in Europe of their version of Quantitative Easing, meaning the Eurozone may buy actual assets to keep prices up. Like we did. Everybody's doing it. It's all the rage! (think currency war)
Oil down again, but there seems to be some bottoming going on in some of the drillers and producers. Some may be hedged better than others. Time will tell who will survive and I am not privy to the finances of companies nor do I care to trouble myself at trying to best Warren Buffet at his game. My game is to trade on price, to try to buy low and sell higher, to buy at any price when it seems that the price will move in my favor by the signals that the market is giving in price and volume. The trick is to actually keep your winners for the long term if you are correct at picking a bottom. A trick indeed!
Here is a oil producer that appears to be at a price that some think is value. Time will tell. But for now it is trying to make a bottom in price.