RE:More pain to come? i think eric nutall just states the obvious. when energy is doing good, energy is doing good and you will be hardstruck to pick a bad stock when times are good. nutall had a good year and was visible on media like BNN which made him a little famous. I think Nutall tells us what most of us already agree with, that oil should do well and a service company like Trican should tighten up and be one of the first bright lights to come back on.
So I don't blame Nutall for having a bad year. What happened to him could happen to any of us StockHouse posters if were in his position. What is effecting Canadian stocks right now has little to nothing to do with performance of the companies-- most had strong first q1's coming out of a HELLISH recession which saw oil drop to next to nothing. Lots to recover from.
So the situation is out of Nutall's control. As for JP Morgan, their new forecast is worth as much as their old one, not much at all. They change with the tide. They will change again whent he forecast looks more promising. Nobody has an answer.
You can google and find contrarians who still think oil will reach $100s
So chose who you wish to believe. I myself think oil will reach the $100s very soon based off geo conflict and shortage. But I'm down 30% on my portfolio this year and want to cry :(