$6 club, page-20

Congratulations to those that bought at $3. Good foresight, well done. But you're not making money until you sell. Paper profits are worthless. Looking at the long term, the price of oil and gas will be taking a long time to recover. why? all past recoveries have been led by growth in USA, Japan and China energy demands. These drivers are not yet there. They will be, but there's a lag between oil price and projects. When looking at WP, look at their non hydrocarbon projects. These are driven by overall economic issues and predicting a global 'warming' of the economies is well documented in negative terms. So, in summary, viewing from a very high helicopter vision, there is some time left before we see WP build value again. Remember, WP has very little assets other than its people. due to the many booms and busts in the oil game, there are less and less engineers taking the plunge into the business. There is a gap of senior experience that is now being forced into retirement. Long term, maybe WP has seen its best days. Trading between $3 and $6 is a good strategy, provided you are diligent.