Post by
wittmann on Dec 05, 2019 2:38am
I might add...
Every single oilco I owned went up today....except BKX.It appears as though the big American fracking revolution isn't what it was ever cracked up to be.Typical
American 'we are the best' garbage.Depletion rates are bankrupting most small oilco's down there.Even big company's are scaling back and their share prices are down severely.They could learn something from their northern neighbours.Despite getting up to 20 dollars less per bbl most Canadian company's have been able to survive.None of the US company's would if they were paid the same per bbl.
Bkx's ability to weather the past storms is going to be put to the ultimate test.Judging by the selling they've already failed.
And I'll agree...this IS NOT tax loss selling.Only a fool would look at it that way.Tax loss selling for the sake of it has been taking place since October.
This is somebody bailing out for good.And again,stop with the nonsense about the bids and asks.A stock that trades at this level makes such talk sound amateurish...and that's being polite.