RE:Anyone ignoring me...Unlucky13 wrote: Just remember I own 20000 plus shares of Baytex and have been a long time share holder so I follow the ebbs and flows of oil and this stock daily. I am entitled to my negative thoughts, it is cathartic to post here and I have a lot of skin in the game, I still own a core position but am down big but still believe in the story sometimes, I hold on hoping for my money back but am not going to sit here and say the over supply is solved whennit clearly is a big problem couples with record low GDP Data from China. Baytex will only survive if the oil price goes north of $40 sometime this year. It can survive a $19 oil price and trade for $1 a share but it can only do that so long before the stock has to cease all operations and become dormant or go bankrupt. We need a $10 surge in world oil prices in 2016 to stay solvent but if we spend the year at $30 or $20 Baytex will be one of the first in trouble. To assume Baytex is going to $7 or $9 with $30 oil is absurd. Oil price matters, and here we are in the $20 range. Based on technicals I would say today's retracement is a continuation of the slide from $110, we still likely haven't found a bottom. Until there is a major announcement oil prices will continue to trickle down. Just my opinion. There was no news to warrant the jump from $26 so anyone thinking this was going to continue jumping has misguided thinking. The breakdown today was troubling to say the least dipping below $30. That makes me think $25 is inevitable, probably $20.
It is certainly quite possible we will see $25 or even $20 oil, maybe even likely......but what an enlightening post! Baytex will not go to $7-$9 with $30 oil....wow! And oil price matters to SP of oil stocks! Thank you for that astute analysis, Unlucky!