If we look at weekly chart, SD is still way under its peak at 9/2009 of $15. so even you picked the market bottom of March 2009 but unfortunately invested in SD, you are still down big time.
However, if you put money in better big names like APA, HAL, SLB, DVN, etc. You are way up in same period of time.
Even you put money in small names like AXAS, KOG, etc. in same period of time, you will be more happy than SD.
Even you put money in old dog XOM in same period of time, you will be more happy than SD.
We can argue that SD will give you better returns from now on. However, the cost of lost opportunities was already pretty high before. And we could not deny that other names I mentioned above could give you same type of return but lower risks if oil pushes over $150/b.
By all these said, you got to give him one thing: not everybody can ride through all these down turns in SD. Investors today are very untolarate of losses.
In near term, momentum is behind SD, and volume/price action is pretty decent yesterday. So $15 is possible. SD is now entering low risk zone. (investors are not missing anything at all since SD is still way under its peak at 2009 of $15.)