I think we saw the low or near low in this cycle for HOU.
I took down a nice position in $4.00 range. Have played/traded HOU for years with the cycles.
Look at the historical chart.
Iran percolating in background... how long will that be allowed to continue ? Another 6 months ? Another year ? Syria and potential for wider conflict. Winter consumption season and Sandy's winter effects yet to come in places like North Dakota, a major oil producer. etc....
I believe HOU is on it's gradual leg up now.