RE:RE:RE:This P-O-S is broken...CanadianBuck wrote:
Slinger14, yes, you are right, that probably was a post I should not have made. Not helpful to anyone. I bought a trading position yesterday @ $5.44 and a smaller amount today @ $5.07 before the release. My break even is $5.34 so not far from where it is trading now. I have a longer term position (not large but $1.00 underwater).What bothers me about BTE is that it was the first name to head south with the pullback in crude after the release today. It has clearly been under performing its peer group lately and yes I think the action is very poor. Maybe the short term volatility is a bit to much for me and I really should stick to names that are out performing their peer group on a short term basis. The PeteGLTA
$1.00 underwater at this point is not bad at all. BTE, as you know, is a quite volatile stock so it can spike $1.00 very quickly on a piece of news. That is an excellent avg cost for a long term position. You will make lots long term so don't worry. And like you said, if you don't have the stomach for the volatility, then maybe look at a safer play such as CPG, WCP or BIR. BTE is very levered to the price of oil. It is one of the first stocks to get dumped in a downturn and it gets dumped bad like we have seen the past few days. It is also a stock that people love throwing money into during a run up because of its leverage to oil price. I think we need to see a $50 floor that holds in order for BTE to start taking off again. Once it does, I think it will appreciate very quickly due to large funds getting back on board. That is why I am also holding it long term. It will survive and is a high beta name that money will flow into big time when we see some higher prices. Good luck...and sorry for the snarky comment!