RE:RE:RE:RE:JP Morgan UPGRADES CVE But It CANNOT Hold Early Gains !!!If it was on fundamentals most of canada oil stocks would be double where they are at now. No one knows how long the political incompetence overhang will last. Today is just another example, WTI +$1 and DOW energy sector +0.7% while TSX energy sector is -0.9%.
tcelling wrote: broker71 wrote: Looking at the tsx energy sector its just sell canada energy trade or algorithm going on ever since the KMX court decision. Feels like a never ending story and no signs of turning. Nothing to do but to ride out the storm if you are an investor. If you are trader the play appears to be sell/short in morning and buy/cover at close. When the some of the canadian companies stupid hedges run out their results will show much better CF and they are not all full impacted by WCS differential. The only big bear cloud remaining on oil is the Trade War Fears on oil demand. If that alleviates we should see a big rebound in canada oil and mining stocks.
The most interesting ting one for me is I hold some GTE. Has only exposure to Brent yet was hit hard with the rest of Canadian oil. It’s indiscriminate and not based on any fundamentals.