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Whitecap Resources Inc T.WCP

Alternate Symbol(s):  SPGYF

Whitecap Resources Inc. is a Canadian clean energy company. The Company is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. Its core areas include the West Division and East Division. Its West Division is comprised of three regions: Smoky, Kaybob and Peace River Arch (PRA). The properties in its Smoky region include Kakwa and Resthaven, all located in Northwest Alberta. The primary reservoir being developed is the Montney resource play, mainly comprised of condensate-rich natural gas. Kaybob is located in the Fox Creek region of Northwest Alberta. The primary reservoir being developed is the Duvernay resource play, mainly comprised of condensate-rich natural gas. The PRA is its original asset area. Its East Division is comprised of four regions: Central AB, West Sask, East Sask and Weyburn. Its Central Alberta region represents the bulk of its Cardium and liquids-rich Mannville assets.


TSX:WCP - Post by User

Bullboard Posts
Comment by Canoutchieon Feb 24, 2016 2:22pm
124 Views
Post# 24590565

RE:Are We at the Bottom?

RE:Are We at the Bottom?Retiredcf - I was noticing the same thing myself, and it left me to wonder if this is an anomaly, or if it is indeed indicative of some sort of bottom (at least short term bottom).

Oil is down, markets are down, yet despite this, certain energy stocks (not just WCP) are climbing in the face of continued bearishness.  I'm not sure if one should read too much into this, but it is curious nevertheless.

Just as energy stocks as a group led the market downward (beginning 18 months ago), perhaps savvy investors are reading the tea leaves and stepping into these stocks on days when they think there will be stronger selling from retail.  Or it could be traders covering their shorts and closing their positions.

Either way, it's probably risky to be short some of these energy stocks right now.   Much of the gains from shorting have probably already been made.  Certain traders, perhaps having realized this, could be covering short positions, which is my guess as to why many energy stocks are slightly up on what one would expect to be a down day.

GLTA
C
Bullboard Posts