RE:Over sold - FearKings_kid wrote: Good afternoon,
I managed to get in on buying some cheap shares today as well. I bought 10K at .86 and ended up somehow with 59 shares at .83 on a limit order. Either way addeding 10,059 shares at or under .86 is something I'm very happy with.
There is still a lot going to oil and this company, I imagine it like this, currently oil and Canadian oil stocks for that matter are an elastic band that has been pulled back to the point just before it breaks. We are going to spring back, the band is not going to break as the world needs oil. When it does spring back I expect oil and Canadian Oild stocks will move up quickly.
Upcoming dates to consider:
March 5/6th OPEC and OPEC+ meetings. With the price of oil down significantly, there will be buy in and a production reduction from this group. Let's not forget Lybia and it's 1 million barrel a day outage that has been completely forgotten.
March 9th Q4 2019 earning release from SGY I expect a decent quarter, a reduction of debt and a maintaining of the divididend.
In saying that I expect we will have some upward pressure in the next couple weeks that should carry us higher.
Good luck to all the longs!
Kid
Kings_Kid,
As usual, your post on SGY is on the ball. Followed your advice and picked up a chunk @0.81. Great time to buy when fear is in the market. The key here is that SGY is a extremely well managed firm with great fundamentals and once you are satisfied that the business is a solid business, then an investment in SGY with a yield of over 10% is well worth the investment.
kudos to your point... SP Up up and away on next Q4 earnings results.
GLTA ,
WindyHill