Patience Emotions are running very high at the moment and investors are losing patience eventually after waiting for 3-4 years. Given TSX at all time high, Oil prices at multi-years highs and many of the O&G stocks at multi year or life time lows.
Apparently, shorts have won in this game and until market sentiment improves the upside trend is hard to believe.
It doesn’t mean these O&G companies are worthless and should be valued at Zero. I personally feel many of these companies are in the final bottom zone and would start the new uptrend very soon.
It is the perfect time for bottom fishing and take it as an investment and not short term trade.