Canadian Natural Resources Ltd T.CNQ

Oil stock will remain depressed untill June 25?

[sebastian2]

All Canadian oil stock have been disconnected from the crude price for about three weeks now.  This is a direct result of changes in capital gainst tax.  Lots of selling to realize capital gains at old rates before the June 25th deadline.  The stocks should catch up after that day but who knows.

[Ocalaman]

Interesting point, makes sense. I am thinking (hoping) the capital gain sell off is just about complete now looking at todays graph and short position reductions in the past few days.The disconnect to the commodity just didnt make any sense when oil went from 80 to 72 now back to 80 may start cabeing reflected in oilco stocks.

[w8asec]

Some of the sell off will be repurchased to trigger a capital gain at the 50% rate, and rebalancing the asset at the higher SP - But sadly a lot of the money is leaving Canada from higher tax payers for countries with zero Capital Gains or Dividend taxation. I think this is JT's straw that broke the camels back. Good strategy to get re-elected... take away affluent voters and replace