Contrary to advise from other investor friends I have piled  back into oil. I have bought some suncor, arc energy, can oil sands, royal dutch shell, and baytex. I didn't buy much baytex, but enough if it recovers.

My rationale; Everything was so low anything was a good deal.
 Oil is around $40 u.s. a barrel. An increase to $50 a barrel (which I think is quite possible, even by the end of the year ) is an increase of 25%. That must translate into higher stock prices.