Wacky DayPosted a similar article on the BXE site (as I own a bunch of that stock as well):
I have been investing (feels closer to gambling these days) for over thirty years. Yesterday has to have been one of the wackiest days I have ever seen. WTI goes above $50 and then back down. Target and Sony announce they are pulling out of Canada. The Swiss decouple the franc from the euro. Alberta Premier suggests a provincial sales tax and I also read an article on the certain demise of Russia. On top of that, Joe Oliver delays Federal Budget until April as he considers the economy too unstable. When I saw COS rising above $7.85 (having just read an article that Iraq was wanting to pump more oil) I started selling. When COS started to go back under $7.70 I started buying. At the end of the day I had the same number of shares (as I do believe this company is undervalued) but 4K in extra cash as well. It took a bit of the sting off. Going to do something silly and immediate with the delta...it's been too depressing these last few months and it is time to go and have some fun with the cash. My view is OPEC wants oil below $50 for a bit longer to kill off more exploration and drilling outside of their kingdoms. I am not a conspiracy theorist...but it seems odd that John Baird is in negotiations with the Saudis to sell them armoured vehicles and Joe Oliver delays the budget until April on the same day. Pure conjecture, but perhaps someone in the Saudi government said something to Baird that would compel him to tell Oliver that things will be better in April. Pure conjecture...but at this point I'm grasping for any sense amongst all of this nonsense. Hanging in there until at least April.