Cenovus Energy Inc T.CVE

RE:RE:RE:CANADIAN BANKS - JUNE 7TH - ATH - ENERGY SECTOR

[Quintessential1]

There is no incentive to hold.  The dividend is tiny even cmpared to GIC rates at that time.

Had I have known it was coming I may have sold too and bought back too

I am sorry but I thought your post was trying to infer a financial conspiacy that I just could not see.

I also can't see one holding this stock or sector down much longer either.

GLTY and all longs.

Spanito wrote: That is what I was thinking.  Peak at June 7th & June 8th,  and then afterwards "Profit Taking".
Sad but when Banks dump they truly do Dump.    One would think Hold, or Buy, but instead "Sell" was what occured.    Cheers 


Spanito

Quintessential1 wrote: The global price of oil and the price of north american natural gas peaked (post pandemic) on June 7.

Banks, IMO, cannot control this.  

Given the commidity prices and recession fears at the time a selloff in the O&G sector (all sectors?) makes sense.  

As the O&G sector reveals its Q2 earnings it will reveal profits and shareholder returns that should see a re-entry into the sector by investment capital.

The O&G sector has not had a problem in leading the other investing sectors in gains when it demonstrates its ability to reward shareholders.  It is my opinion that it will do so again.

CVE should be fine as sharehoder return are now its focus as debt reduction targets are being met and its debt floor is not far off.   They too may be aware that they are competing with GIC and bond yields.

GLTA Longs

Spanito wrote:

2022 - "All TIme High" -  ATH.

Folks here is a little tid bit of information for you all.  June 7th, 2022 saw the entire North American Energy Sector reach their all time highs since the end of the pandemic.  Now who could control such perfect timing of all time high's in this sector?  Banks and Investment Institutions.   My point is if they strongly believe so much in current spectrum that Energy companies willl post huge record profits for Q2 which I believe to be true as well,   then why are they all dumping right now?  
Personally I don't have the answer, but something doesn't seem right here.  Take any Energy Company for example in Canada and look at their all time high for the year.   June 7th area is where you will see them.  I have loaded up all my positions that closed off on Friday onto charts,   and you willl not be able to argue the date June 7th or near that date.   Every energy company rose to glory near this date, and every energy company has now started a decline downwards.   Some as must as 50% and others at 25%.   Regardless,  just saying that something stinks with the banks.


https://thoughtleadership.rbc.com/canadas-economy-is-headed-for-a-recession/



Spanito