RE:RE:Significant Upgradenewcoin wrote: Strange - just as this significant upgrade comes along, CVE loses $1.00 in the last few trading sessions?
Oil is still above $70.00/barrel.
And I'm afraid we are going down some more today. If WTI manages to stay above $70 or even $65 this stock is a bargain. The problem is that the large institutions are not interested in oil related bargains right now. They would rather buy Tech stocks with no PE but that appreciate 100% or more annually on possible "future growth". Until CVE and the others pay a decent dividend and buy back their shares via a mountain of free cash flow they will stay away.
For my part, I still own tons of this stock after selling a few thousand shares a couple of day ago at $12.70. As I stated before, it will be hard to go above the $12 range until we see a catalyst, that may come when they next report at the end of July, annouce some major asset sale or if oil starts another move upward above $72.