Post by
Unlucky13 on Feb 24, 2021 9:56am
If oil inventories go up
If the EIA shows a build after the API build likely this goes back to $1.10. Could make 6 cents a share. Risky but 10:30am is the tipping point today and also earnings loom, they won't be good, negative or flat at best, if forward guidance isn't good and if oil drops we could go back under a buck.
Don't think we are out of the woods as OPEC meets in March and oil could be range bound now between $62 and $55. This might be the top end of this cycle and a good opportunity to get out and cycle back in. I could have got out and in many times with BTE and profited but held. so I am not convinced this rally will last either.
Most analysts see $100 a barrel as unrealistic. A few see the super cycle and it seems to be based on inflation post recession and post Covid. It's very speculative and not a sure thing.
It sounds like people are basing increased prices and future inflation on the perceived idea that oil is going up post recession as historically it often does, not on fundamentals and the actual supply/demand balance.
Texas shale is coming back online and OPEC can stop this rally next month.
Can we all agree Biden is the man and Trump was the biggest bust for the oil business?
Comment by
bigstar10 on Feb 24, 2021 10:01am
Unlucky13 you are the biggest clown on S/H are you still Uber driver/professional Baytex day trader, lol unreal
Comment by
Unlucky13 on Feb 24, 2021 10:03am
I am a Uber driver and Baytex swing trader, yes. I drive Uber to pay my carrying costs. Aware you selling pre 10:30am or buying? Inventories might crush the oil price. But also the risk of missing out on good guidance?