RE:$5.62 Nessrookie wrote: Start of August. Oil hit $39 and BTE $5.60. $47 oil today and same price stock price Was the market trading Canadian oil stocks based on the idea that we were going to an oil price with a 3 in front of it. Has that changed now with 2 draws, no interest rate increase and OPEC deal? Time will tell I guess
Needless to say the short positions are HUGE on Canadian oil stocks today. Do they double down or just take their profits and wait for higher price to short There are certainly shorts under water today Do they take any dip as opportunity to cover?
Or will this just be one boring a. SS day
If I were a short I would probably be holding on... which tells me since I bought yesterday and am up over 40 cents.. I should take my profits and run for the time being.