RE:RE:Looking at the bash campaign of ECANessrookie wrote: I bought $10.10 yesterday. Re sold today $11.06. Missed the high. But it's also $10.80 right now. I guess after the run people woke up and realized the price of oil is dropping. Anyways I guess I could always take my profits and buy back in (troffer taught me that one). Now I could own more ECA shares
This is exactly what you do PRO. Someone obviously paying you to pump. But in the mean time you trade BTE all day long and tell your followers you don't
BTW. We have asked several times. What is your position on BTE. Let me guess the first time you bought BTE was end of Jan as well
please se provide a real answer not a LOL reply
Nice job with ECA Nessrookie! Don't worry about hitting the high you nailed it IMO.
ECA shows a couple things:
1) Earnings surprises whether positive or negative with leveraged oil E&P co's almost always minimally affect the sp shortly after the initial buy or sell rush. They ultimately quickly move back to trading with the price of oil.
2) Oil companies have done an amazing job at cost cutting after the oil price crash. Alot of them cut their expenses by 30% last year and they are doing the same this year. They are also trying to renegotiate the long term contracts they have with pipeline owners to reduce transport costs. The net result is that even though CAPEX spending is down substantially so to are the expenses so a BOE produced costs much less then a couple years ago when oil was $100.
It's always refreshing to see the binary minds make things sound so simple when they look only at CAPEX cuts and predict a near term supply crisis based solely on that. They completely ignore the possibility that the 40% CAPEX cut is offset by the 30% reduction in costs needed to produce that BOE. Also the existing rigs operating are largely horozontal which produce much more then vertical drill.