Vermilion Energy Inc. T.VET

that was painful for shorts

[oilgenious]

Markets

Saudis Defend Oil Recovery With Warning for Shorts, OPEC+ Cheats

By 

Salma El Wardany

, 

Javier Blas

, 

Grant Smith

, and 

Dina Khrennikova

September 17, 2020, 10:18 AM ADT  Updated on  September 17, 2020, 8:01 PM ADT

•  
  Prince Abdulaziz warns short sellers not to test his resolve
•  
  UAE gets a thinly veiled dressing down for over-producing

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In this article

CL1

WTI Crude

61.07

USD/bbl.

+3.31+5.73%

BNP

BNP PARIBAS

51.12

EUR

+0.76+1.51%

 

Saudi Arabia showed its determination to protect the oil recovery, warning short sellers not to challenge its resolve and delivering a rare public rebuke to a close ally that had been over-producing.

 

 

After a meeting with fellow OPEC+ ministers on Thursday, Saudi Energy Minister Prince Abdulaziz bin Salman dropped clear hints that there could be a change of direction in production policy before the group’s next ministerial meeting in December.

 

 

As the rebound in oil prices falters, the prince invoked his hero, former Federal Reserve Chairman Alan Greenspan, with an attempt to bend global markets to his will.

 

 

“We will never leave this market unattended,” he said. “I want the guys in the trading floors to be as jumpy as possible. I’m going to make sure whoever gambles on this market will be ouching like hell.”

[Moemoney42]

Although thats old news its still relevant today.. ;-)

[Backinblack1000]

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[RevT79]

Love that a powerfull guy like the Saudi prince tells the shorters to f.uck off!! That is a really positive sing for  prices of oil to stay where they are. vet will be in the 11 next week!

[Backinblack1000]

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[downtozero]

Shorts are up for VET. Yesterday 3.03%, today 3.54%.

[rino27]

Could you please tell me which site you are getting your info from? Thanx in advance.

[downtozero]

RBC Direct Investing Short Interest as % of Float 3.54% Number of Floating Shares154.195M

[Moemoney42]

Hate to say it for the longs but my $8.75 target I posted the other day could get triggered today.. :-0

[Backinblack1000]

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[Moemoney42]

Wow that support target is looking very possible.. should move up from here but no guarantees traders don't try to take it there tomorrow.. damn near got there today..!! Yup and I remember one poster poopooing the call.. LOL.. 

[Natgasbc2021]

fml I broke my own rule Friday I was completely out of VET from the last run up and was targeting and entry near the 50day moving avg.. low 8s but the move up Friday was very convincing and bought back in 9.2s.. I was busy this AM but had seen WTI falling should have pulled the pin for now.. see what tomorrow brings

[Moemoney42]

Well that got uncomfortably close didn't it.. $8.78... days not over.. but looks like another good call eh Mr. Poopoo.. I know you're reading this.. LOL.. Watch and learn grasshopper.. LOL..

[ThatAlbertaGuy]

I just looked and saw the dip and was gonna ask if you held onto your 8.75 bid lol. 

[Moemoney42]

Actually I'm fully loaded with VET and don't plan on buying more.. just wanted to make a call on what could happen a while back.. never said it was guaranteed by any means, but felt that the target was realistic and 3 pennies on a $9+ dollar stock I'd say was close enough for me.. if I was buying though I'd certainly have upped my bid when I saw it turn around below $8.80

[Moemoney42]

Well there you have it.. even blew past my $8.75 target... Hey Mr. Poopoo how about that call.. LOL.. any more smartass remarks...? By the way Alberta guy thats not refering to you.. ;-)

[ThatAlbertaGuy]

lol I know :) it's too bad I got excited at 9.90 but still up from my buys down in the 5s . Hopefully start seeing some sunshine here soon though

[Moemoney42]

Could be pressure until the Q1-21 numbers start to come out.. most likely a few more shorts piling on as well.. Unfortunenately.. :-(

[Tommy123]

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[ThatAlbertaGuy]

I think at 11$ cad it was definitely assuming 65-70$ oil earlier then predicted but at I don't see why 9-10 can't be maintained at 60$ oil as that was vet forecasted average on their year end .   

[Tommy123]

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[ThatAlbertaGuy]

perhaps , I like to look at the average call which is 9.61 round out the errors . Also consider the ceo is the second highest holder of shares even when compared with institutions. I think he will have shareholders interests in focus when it comes to the companies actions going forward .  I also see ninepoint is the 4th highest institution holding at 1.75 million shares ... didn't

[Moemoney42]

I agree Alberta.. the average consensus is more precise as all analysts can miss targets... just ask Mr. Poopoo.. he's got a good record of missed targets.. LOL..

[downtozero]

Eric said he sold his shares in January. The top 10 shareholder information must be out of date. 9 point does not show VET in its current top 10. https://stockchase.com/company/view/1308/VET-T https://www.ninepoint.com/funds/ninepoint-energy-fund/

[ThatAlbertaGuy]

yes you are correct , I retract my statement then . Still the ceo owns a ton !   

[Backinblack1000]

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