May. 21 at 11:44 AM
$LYG oil back up this morning...LYG down again. So far LYG has held just above
$5 dollars. Showing there is consistent support at that price. In my opinion there is no real reason to sell stock. More oil is being produced elsewhere in the world, more oil is finding alternative means out of the middle east via alternative routes/pipelines. And more tankers are escaping the gulf to support alternate routing. Whether the hostilities resolve themselves in the immediate future or the next 6 month doesnt change the positive outlook for LYG. I continue to be bullish long term but acknowledge there are short term external factors which could cause the price per share to fall below the current levels of support.
