GREY:BNPUF - Post by User
Comment by
konzelmannon Jun 03, 2016 9:38am
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Post# 24930826
RE:RE:Stock is in
RE:RE:Stock is in
Sharp drop on the PP news, followed by days of flatness, suggests bottom is in. Of course, other happenings can dictate where it goes from here as well. But if you were bullish on oil/mat gas and BNP moving forward and were just waiting for the near-term bottom to be in, it would seem that it is. Nat gas spot up nearly 25% in 2 weeks because of hot weather or predictions of hot weather. Probably at these prices, BNP can lock in some hedges in the future that are quite profitable (above current spot, probably closer to $3), if they want to. Though they're well hedged already.