When To Pick Up After A Short Squeeze?

NYSE:ICD   Independence Contract Drilling, Inc
I think ICD will do very well in this sort of a macro economic environment, with the commodity supercycle and the US's renewed focus on energy independence. That's probably why that short squeeze happened. So now that the squeeze has been squozed, the question is when to buy back in. I think $4 looks like the convergence point of a number of trendlines . A small pullback is in order along with the pullback in oil right now, which will of course reverse and moon as soon as we realize that depleting the reserves actually makes oil more scarce instead of more abbundant. Take care.


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