And everyone here wants to buy Baytex.The only disagreement is who low? Is that correct? This is far from a speculative stock at these oil prices and now that OPEC has signalled a fundamental change. The "have" to. They have no choice. The "Market" will continue to eat them alive if they don't.
Well, at below $6 Canadian or $5 US, this seems low to me. Keep in mind, I bought Baytex in January 2015 and bought again big time in spring.
In many ways, I'm glad it's down to these levels because I'm seriously considering loading up big time because I can buy a whole more shares for the same price as I did, especially in 2015!
Don't be surprised to see this double or triple in a year especially if oil hits $50 and stays there or goes closer to the Saudi's target of $60.
Baytex hit $9 on the last big run in JUne. Many traders here were surprised but that's when oil hit $50+. Some were speculating $60 on the short term. We are trading at near half these levels now and only $2 away from $50? That tells me this is a stock ready for a rebound at this point in time.
If you are an true investor, and not one of the many "fakes" here, look at longer term cycles. Let the "Pros" here use their "rulers" to measure whatever they want. They are the "pros", we're not.