Ann: WorleyParsonsCord awarded Cutbank Ridge Partnership contract-WOR.AX, page-25

'almost inconceivable'. Just goes to show how 'hope and time' make us forget past reality. Oil was in the 20's less than 6 months ago -it has doubled since then.

The only thing that got oil into the 20's was fear, and then greed brought it back into the 40's. Really not a lot to do with fundamentals these days. Living in a world of free money means that the fear and greed volatility increases. With free money people leverage, and with leverage comes higher risk.

I can see oil in the mid 30's easily - not because I have a crystal ball, I just see 'riskoff' coming into the markets. Risk Off means get out of companies that lose money if oil falls, or that are not positively impacted by the rising US$. STO falls into both those categories.

On the BHP forum people were so excited because chinese iron ore futures were rallying. Seriously - what does that mean?!?! It means that people wanted to see a positive, and that became it. Easy to ignore copper (yes, Dr Copper - the real guage) as it fell through the floor.

I am positioning for a early August sell-off, and a huge rally later this year and into next year - especially for commodities. In the meantime I think gold miners are a safer place. As the bears come in, gold goes up - if want to be exposed to mining I think look at gold.

Not bearish (or more so than normal) on STO, and not trying to talk things down (I don't own or have short positions anymore). Just wanted to give my opinion, while sitting on the balcony having a beer on a Friday evening. Great weekend to all!!