RE:Interesting comment from Dan Dicker... your thoughts?Agreed on many oil stocks. With CPG just slashing dividends and some of the other oils not having any insider buying, I've sold those to pile on BTE. I only have a small very long term position for tracking.
BTE was pushed too far, too fast. Once it hits $10+, then yes, we might see that sideways movement described by this guy. But it's still too undervalued. It's base NAV is $11 per share! They bought that great Texas asset for $16 CDN! It's what is making money for them an allowed them to scale back the more expensive Canadian production for now until oil is above $40. Profitable for less but these guys know oil!
Until then, we have the shorts running it down like today and we have the bulls coming in *right away* to buy cheap. Reviewing the charts today shows that initial two waves that some traders rode follow by the bear/bull ATS tug of war.
