Exactly Captain, skypit, very odd I sold off some RRX yesterday, the action on these Canadian names don't make sense. Some might say I am being fearful, however, logic is not playing out
On top of it all, all equities, seasonality is good for oil equities, they usually do good from mid January to the spring, everything should suggest green.
Watching the trade tags, American houses were selling off RRX over the last few weeks
Then the CEO of RRX drops almost a million $ to buy up his own stock on Monday.
It is like the Americans know something we don't.
Wouldn't be hard to imagine Trudeau selling out Alberta and western Canada in some kind of oil tax so that the Trump administration leaves the Auto sector alone.
Politics would suggest Trudeau needs Ontario he doesn't need Alberta.
My gut is telling me that the market is due for a big correction in the spring or sometime in 2017, I mean it's been almost 9 years now since the last recession.
I figure oil should be good for awhile, at least until Saudi sells off some Aramco, Bottom line is oil equities should not be down today, and that raises flags for me, cheers Matthew