Baytex Energy Corp T.BTE

Oil due for a correction

[Cobalt]

Anyone want to talk about Oil hitting the upper rail in a well defined channel?
Large correction coming or we break-out and start an even steeper channel.
All the TA out there is for a correction, self-fulfilling?

Very interesting week coming up! , got my finger on the HED 2x bear buy button to hedge / cover short term losses form all the oil names i hold dyodd

[gareez47]

In normal times I would have sold off a chunk of my holdings on Saturday if I felt a correction coming. But we are not in NORMAL times. We have Covid recovery kicking in, Supply problems in the US, Underproduction on many fronts and Sabre rattling on the Russian Ukraine border not to mention that the BTE year end results are just around the corner. Take some profits if it suits you but keep your

[gareez47]

I meant Friday in my post

[Cobalt]

Not taking profits still a touch leveraged long with all my names and some HEU 2x bull. but if we break down dont need to sell just buy HED 2x bear to hedge short term , yes it is not normal times but once everyone gets on one side with leverage they always rug pull good times dyodd

[riski]

You could just as well to go outside tonight and find some vague pattern in the stars to tell you something about the future price of oil......and have about as much success in your predictions as you do trying to find patterns in stock charts.  

[Cobalt]

Thanks man but be doing just fine using nothing but charts for decades , some of us have the ability to see patter recognition and some just out right dismiss it as garbage cheers

[Antonyius]

There's only one company that has proven itself running fully off TA and that's renaissance. If it works for you and you're happy that's fine but for most people it's astrology with stocks.

[deepblue]

Cobalt nailed it!!

[Cobalt]

HND 2x (Nat gas short) easy 60% in like 5 days , Texas weather brrrr going into shoulder season Boo Yaa

[Maxmoe]

Weather is not technical analysis in any way. It's critical to nat gas prices. weather is a critical determinant of the demand curve. Brrrr. Then it gets used to crank electricity production for air conditioning demand in the summer. Damn weather!  

[Cobalt]

Right averaging that weather out over 13 years to find the pattern not technical in any ways thanks

[Maxmoe]

No, it's not. The weather is a critical fundamental determinant of demand for nat gas. Duh.

[Cobalt]

Do you have a reading comprehension problem? I just agreed with you LOL

[Maxmoe]

Apparently I do. My apologies.

[Nothingmatters]

100 % woth you riski.. these chartists find patterns in whatever they want. Basically he is saying, if matkets go up then good if down then good.... finding patterns is bull s'xxx... and the people who say they find patterns are jokers....

[Cobalt]

Damn garbage TA

[Nothingmatters]

Yes garbage, you just said that either we go down or up lol what are you boasting about????

[Cobalt]

[Nothingmatters]

Market is baking in Russia ukraine war not happening and iranian talks... scarecrow tactics...oil still going to stay above $80 for the rest of the year...so this only matters to day traders not long term holds..

[Nothingmatters]

If russia would have made a move, wti would have been $100 so the bottomline is nobody knows anything...oil could back to the lows $80s or high 70s before we settle....

[deepblue]

Timberrrrr... Cobalt how low does this go?

[Cobalt]

I could do some fibonacci on it to find targets but picking targets out in the future is a fools game now seeing the buy and sell candles when it happens is easy peasy , let ya know when i see the buy call dyodd