Baytex Energy Corp T.BTE

Shorts victory

[1234bmth]

This is big victory for shorts to keep oil stocks depressed while oil is up almost 10 %, stocks will go down automatically when oil will be down.

[HighOctane89]

On the contrary I am surprised at the resilience . Stocks have been hammered with saling but it seems the nail can't be driven any deeper . Like the last big selloff in Sept , I think it has hit bottom and have seen the worst . I would expect this to move up now slowly at first . 

[1234bmth]

I would agree with your point if the resistance was on  the oil downtrend, but oil stocks were going down a long with oil, once oil started to recover stocks also should start going up, but in 3 days with oil up 10% and some oil stocks including BTE are flat this is not resistance. This is weakness, yes, I would agree with you if oil goes down from here 3 to 5% and oil stocks stay flat or