I know that most are not bullish on Oil here but CPE would appear to be entering Stage 2. I have not been able to find another chart as bullish as this one in the oil patch.

Note that we are now below the 30ema and testing my long term 3 year fork. I am betting we bounce here and added to my coffee can position today.

Screen Shot 2016-01-05 at 12.19.31 PM

On a related note, I love Callon because they are a domestic producer. If you think that the Arab Spring is finished, think again as the next shoe to drop will likely be Saudia Arabia. Here are a couple of links that speak to this possibility.

A long shot perhaps but if this scenario plays out, I challenge the GoldTent Forum to find a better looking Oil and Gas play to sit tight on right now.

http://philosophyofmetrics.com/dont-panic-just-yet-freepom/

http://40yearcycle.com/wp-content/uploads/2015/02/2016-The-Golden-Year-excerpt.pdf