Trouble tomorrow https://www.bloomberg.com/news/articles/2021-09-05/saudis-cut-oil-pricing-for-october-as-opec-adds-crude-supply
I made an awful mistake to go all in with more margin last week. Tomorrow might trigger a massive stop loss and sell tomorrow. We could see a down day of 10 cents or more. OPEC plus has spoken and they have created a wedge that can't be altered now. Don't shoot the messenger.
I am getting closer to breaking even but start bleeding shares on down days because of margin requirements. This never ending odyssey never seems to end. I expect a bloodbath tomorrow and we have the double whammy of Covid and the fourth wave so it's likely going to be very ugly.
$3 seems impossible this year, $4 is just unthinkable and $5 is just straight up never going to happen. Overall a very disappointing summer to be a BTE shareholder. It's the stock that just keeps dropping at the first hint of a run. $2.35 is just a lower high this summer. $2.58, than $2.35, than sub $2 again. It's a pendulum swing and we can't get out of this nightmare scenario. It's incredibly frustrating. Don't let Wolf fool you, at current wti they keep the lights on but 5 years of these prices means they pay off debt but the share price won't accelerate much past $2.50 based on current P/E ratios. Let that sink in. At $70 oil the market is valuing BTE at $2.25. In 5 years with oil averaging $70 a barrel at best the stock wil be $2.50. We need $80 plus oil to move this past $3. Dark times indeed and don't let Wolf convince you that sinking back to $1.75 here is a good thing. I think we see $60 oil in the next few months because of the slowdown happening in world economies.