Slump in oil price hits WOR, page-88

I have one short position left. I had it scheduled to close at 5.55 but got greedy and moved to 5.45 and missed the 5.53 low. Just shows how being too smart can cost money. WOR now 78c above 5.55 level and i've decided to keep short open but with higher close in 5.60 - 5.80 range.

ASX extremely strong these past few days and naturally WOR rises with it. But POO remains very weak although that can change anytime as M.East remains a powder keg. My thinking is that POO needs to exceed USD 76 for a decent period before any oil/energy related projects are reconsidered. FY16 is weak for WOR with FY17 likely to be even weaker. Hence i expect SP to stay well below the recent jump to $7.50.