RE:Spot short selling and sideline traders this weekend2 to 4 years before Britain even leaves the EU... This is just panic selling but the fundamentals havent changed. Oil demand is higher every day, production is lower every day, investments have been cut by 1 trillion dollars world wide. I have 50k shares of BTE, if I shut off my TV and my computer and come back in 2 years and hit the sell button I will be selling my shares for 1.5 million I figure.
number1hit wrote:
Funny bunch! They are the desperate ones providing 100% opinion and no substance.
Enjoy the short term storm shorties and sidelines. Your days are numbered. Everyone is bullish on oil and Baytex on the longer term.
True shareholders are going to ride out any short term hickups until July 28th when Q2 numbers are announced. And if you recall, Q1 surprised everyone and sent the stock soaring.
Surprisingly good netbacks, EBIDA of +20M in oil's most difficult and uncertain quarter in decades. Positive net operating cash flow. Book value (depressed) of $11 per share. Total assets over $5B. There's nothing negative going forward here for this strong oil. The upsides are mind boggling!
By July 28th, this stock will be above $10 with oil above $50.
Enjoy the short term panic while it lasts. Global investor sentiment on "Brexit panic" seems to be turning as each hour goes by. And it's not because the world reads this web site! They don't.
Brexit is just another panic as we have seen 3 times last year. Each provided great buying opportunities on oil and BTE.
As for Brexit and crude, these are important facts:
"Reflecting upon the crude consumption of the country that has been constant since 2005, Britain consumes less than 1.6 million barrels of oil per day. This makes up 1.6% of the worldwide total consumption. "