BMO a vote of confidence / BTE largest purchase of monthIf there's ever a vote of confidence while owning a stock or trading a stock that would be having a Firm like BMO doing a block purchase of 17Mil shares at a value of $111Mil which is a massive purchase and having the stock trading at a value of $6.56 could make a massive return if this ever hits $8 for someone, but with all deals it's a zero-sum trade, one is the buyer the other seller so if this happens when the consensus is that BTE trading price is an excellent buy-in price that's a vote of confidence but that is if the most volatile commodity Oil return above the phycological level $90+ that would make buying under $7 work and if Oil goes up over the next phycological level $100 then BTE would make a run higher. Bottom line I think today's purchase was a real shot in the arm and is now added to its already list of built merits of BTE and that is what adds stability.
I started in July about Sept - Nov being rough well here is where we are on that prediction. The DOW had the 1,276 pts drop in one day and the DOW is down 834 pts and the TSX is up 243 pts and Oil is at $87 and average at $85 over 2 weeks and this is Sept the last month of the quarter and July & Aug averaged $93 Oil so Sept has been bad for Oil revenues and the share price needs to reflect this and combined with this we add BTE merits and that's the value. Everyone knows I'm all about the economy and Oil I trade BTE each day where ever the SP is but for a purchase like this everyone needs to look at numbers. I'm very confident that BTE is one of the best trades and has stability its finding its way in this environment and traders are drawn in but I'm not positive about the economy/Russian war/Europe crises/China and North America raising Interest rates/recession/extra production/cap Oil/Russia selling cheaper all hurting Oil prices so you find a stable trade like BTE in rough times.