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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.


TSX:BTE - Post by User

Bullboard Posts
Comment by GotNoPensionon Aug 21, 2020 7:15am
164 Views
Post# 31437205

RE:10 cents down from the 78 cent high.....What does it mean?

RE:10 cents down from the 78 cent high.....What does it mean?
Decible wrote: Here is some actual useful info, rather than name calling, which is halarious, but not useful.
People who bought at 50 cents or so, that don't want to actively trade, put on stop losses on at 5 cents and 10 cents. You saw the 0.78 to 0.73, 5 cent trigger and now the 0.74 to 0.68, 10 cent trigger. The trading houses that short BTE have their positions between 60 - 78 cents, that's why Deepblue keeps calling for 60 cents. They make money by selling 5-6 million shares, which they also bought at 50 - 65 cents, that trigger the stop losses, then they cover their short positions.

Its basic trading and manipulation, but not illegal. They just need to be careful they don't get caught in a short squeeze like they did a few weeks ago.

BTE might go down a bit more, 65 cent is my guess, but they will start covering their short positions and then start buying to drive the price up and then take new positions. 75 to 85 cents, is my guess.

Be aware that this trading pattern can be thown out of wack by major world or oil news, but the pattern is apparent if you look at the daily SAR. It's pretty consistent, 15 or so days up and the 15 or so days down. BTE is getting stronger, so the saw tooth pattern has an upward trend.

I base my swing trades on this, and either stay in overnight if on an up swing, or pull out on a down trend.

I sold yesterday at the end of the day and stayed out last night and bought back in closer to the end of today.

Should see a pop and drop in the morning. They will cover then sell to get the to 65 cents, then it should be up from there on Monday.

GLTA



Bullboard Posts