Baytex Energy Corp T.BTE

Every Trade A Lesson - BTE Feels Like The Old Days Again

[Snowballer]

and that's scary.

Here I tried to be too early. Took my small loss (but still up from my last trade) so will wait. I call it 'trader tax' which serves as a small fee to preserve captial from further erosion.

I'll move to a longer time interval for better verification.  Such as the daily.  Very bearish out there, it's just not time yet to move back in especially as traders/investors take profit or are just wanting to bail.

I imagine there is a trade coming up as we are putting in these lows on the price and the indicators... will join the new direction when it shows up.  Don't need to catch the bottom, just the direction.

Wouldn't be surprised to see low $6's or high $5's.

GL to all longs and traders.

[65F09A]

Snow - Isn't it healthy to fill the gaps in all these names if this is a truly multi-year bull market?

[Snowballer]

The direction is down, clearly. The point of bounce to fill a gap is unknown.  Are we in a multi-year bull market or did we just end one??? At some point the stock will be very cheap so I don't mind holding a few at that time.  $6.85 If I recall is close to BV (could be last years number I forget) so anything below that would be much better.  Buying here at $6.50 for those who

[65F09A]

I was talking about the Oct 1 gap up in all these names.  $6.00 for BTE in particular.  'Gaps are made to be filled'.

[Snowballer]

Well certainly makes sense with the range targets I was just posting about.  I think large Indexes have a 100% gap fill rate back up but not sure about stocks up or down interms of % probabliltiy.  But either way if this hits $6 that would be great!

[dandu1924]

there is a gap around $6  but about the other gap around $3.60 (december 2021 ) ?

[Snowballer]

That would be a dream.  $3's was my average before I took my windfall profits. If I could do that again and sell the next big run after a recession.  wow. that would be awesome.

[65F09A]

One could argue Dec 2021 is a 'continuation' or 'breakaway' gap after a brief consolidation.  Less concerning for me than the five months spent chopping around these various $6.00 gaps.