Suncor Energy Inc. T.SU

Oil bulls, here's your sign...

[MigraineCall]

We are sitting on a massively over compressed coil spring, waiting for a trigger. The short covering could be epic.

We have just recorded the largest bearish crude positioning since 2011. 

We have slid down 7 weeks in a row, on a massive one sided paper oil trade, this week eeking out a mere $1 gain for the week.

Who in their right mind would be entering more shorts at this point?



https://oilprice.com/Energy/Crude-Oil/Bullish-Bets-on-Oil-Fell-to-Lowest-on-Record-This-Week.html



Got oil?

[Frankystars]

This post has been removed in accordance with Community Policy

[Offgridtrader]

I always look forward to your posts. I hope your family is doing well. Question, I'm sitting on quite a few pennies in my RRSP... What oily names are you currently buying if you don't mind sharing & why? Same question to others if you're currently buying too. I figured I'd ask here since this forum still has some of the best discussions and debates. I'm very heavy MEG

[meritmat]

I ended up dumping a bunch of cve to move into  ENB- Hey 8% div Whitecap, Think its paying close to 8% at current price and div is safe Cardinal.  Its paying 10% but I want to see oil stay over 70 for me to feel good there not going to cut div.

[mrbb]

if u bought in ENB at <$40, it would be a pretty good move

[jx7000]

I added to my Cardinal position last week when it fell (briefly) to below C$6--best div of all the oils. The bots and anti-oil shills can only do so much to stop a bull.

[mrbb]

u need to put your portfolio numbers in a spreadsheet and have a look. u have to see what percentage oil/gas holding that u r comfortable with, pure upstream vs mid stream vs downstream, growth vs dividend, juniors vs big caps. Only u know what risk/reward u wanna comfortable with  

[Offgridtrader]

Absolutely! I couldn't agree more. I'm just always curious to hear someone else's strategy or logic that may offer (us) a different perspective or rationale that we haven't considered yet. I'm still quite a few years away from drawing down the RRSP so I don't mind living "dangerously" as I too am bullish on oil in 2024.    I'll share. Since this

[555rookie555]

I'm hoping tax loss selling hits Algonquin and capital power. I like that both are in the US in a growth industry.  Birch cliff energy is a junior natural gas play that I expect will be hit hard as well but I see it as a very risjy short term play.  TC Energy: I think there may be a good opportunity after they split the oil business off. 

[meritmat]

Yup I got captial power also.  Starting to build into power generators.  Not sexy but we will always need power 

[MigraineCall]

'buying wounded animals that appreciate as they heal'  How well put! This has been such an important strategy for me as well. I think many here can offer better insight into individual companies than me, but I can share what I do. Depending on comparative strengths and weaknesses, I have been trading out of stronger positions and buying into weaker ones to catch the appreciation