The bleeding is over for the week..I'm sure that BTE and all the other energy plays have lost a lot of investors this week and even more today as everyone ran towards the exit. Sept has been disastrous, and I'm sure a few brokers are having a drink right about now. There's really nothing that can be added to making today any worse and as humans, we tend to forget the past and work on the future digging ourselves out of the holes we're in. I was always told that it takes as long to get out of trouble as it did getting into it and this will hold true for the FED raising Interest rates to fight Inflation they have said that it will take a year or so to bring Inflation down to 2% so don't expect the economy to get better anytime soon because it's only going to get worse as we head into next year and as for Oil someone will have to cut production by a large amount to make any difference in getting the price of Oil higher because Oil won't be hitting $100 because of a bullish economy. Next week will be a whole new week to deal with and if there's any chance of a rebound it will happen then. So we hope, Because of the selling there's a lot of cash sitting on the sidelines that could be injected into stocks and if Oil is up next week BTE should recover.
Trading is a fine blend of Optimism, Pessimism, and Realism