TSX:HSE.PR.B - Post by User
Post by
Dogsbreakfast4Uon Nov 02, 2018 7:18pm
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Post# 28917736
Bottom?
Bottom?Looking at the charts of the S&P-TSX Cappped Energy Fund it looks like we are very near or close to a major support for Canadian oil stocks. Watch next Monday or Tuesday for a bounce off current lows or a breakdown to the late 2015-early 2016 levels. The Iranian sanctions start Monday. Lets see how the market wants oil prices to go. As I indicated a few days ago HSE may soon test its support at $17.50. Canadian oil stocks have been massacred. Its now the law of the jungle out there now. The fit will survive and prosper. The others...
On a separate but not completely unrelated note MEGs CEO reminds me of a running buffalo trying to show predators it is strong and fast and can't be caught and put down. In the end when weakened by drought (terrible oil prices) or saddled with injuries (huge debt level) the buffalo WILL BE eaten by the lion(s).