So undervaluedAs long as the general markets don't tank due to interest rate increases, and they would have to go to at least 3 or 4%, I really don't see prices much lower than at present.
I have not seen anyone prior to 3 months back, come out with today's prices of NG at $4.67, oil back to $70
So, does anyone think we will see CR coming down to $1.50 to $1.70 range based on the next three quarters earnings and increased production numbers?
If the answer is NO, then look at what is coming in the door even if there are hedges in place, new hedges will protect them going forward, fix the floor on new wells to at least get their costs back quickly.
Now the other question is, will we see lower pricing this winter than $4.67 today's price? Most i suspect would say NO. Just look at current inventories, very very low.
So a floor may be forming for quite some time.
It is the consistency going forward that will gradually bring these oil and gas stocks to where we want to go.
I want to sell to take some profits and do a trade, and then immediately I want to be fully invested. What do I do?
I say stay fully invested. Add to your positions as funds become available.