RE:Hail Petroleum!Hmmm, maybe a little too much hyperbole. My new word for the new year. Remember imasco? Every little old lady and pension fund in Canada owned it. But it owned imperial tobacco. Remember cigarettes? Mine were players light large regular. Right up to my heart attack. They also owned Canada trust and sold it. They owned shoppers drug mart, and sold it. Eventually taken private because nothing left but tobacco and nobody would touch it. I doubt oil producers will ever get there but there sure are a lot of nutbars circling. Similar nutbars swirled around seagrams and molson but they were taken out by foreigners for big bucks. Ps bad nickname. Somebody will suggest you drop the "G" in the name.
MaximusGainus wrote: Today, I am piling on even more treasure to board the ATH train before it departs. Watching others today, most have already left the station, and now might be the last chance to board and catch the ride at these prices.
Seriously, I sense there is going to be a shift from overvalued peaking tech stocks and into real undervalued stocks like energy. The market won't be able to ignore the YE cash flow numbers coming out of all the CDN producers this Feb. Even the magic 8 ball says the Q's have had their day, and are running out of buyers as the prices are so overstretched. As they stumble, money will move from a stagnant arena of blood and tears and look for a new place where it will grow the fastest, it's future secured with decades of reserves, income, and cashflow.
Remember dot com hype?
Cannabis hype?
Well, EVs are also too overbought now. Short em if you can. They will pull back as investors realize they ignored earnings and fundamentals, and were paying for the happy ESG dream of clean air and fluffy bunnies bouncing on a green meadow. The share prices are trading as if billions of people abandon their gas guzzling vehicles and plug in tomorrow afternoon at 5PM to save the world. Soon, they will wake up to the brutal reality and smell the diesel.
The Covid effect is in the rear view mirror.
OPEC+ members can't meet quotas and are almost out of spare capacity.
Demand is increasing.
Global crude and product inventories are dropping.
The easy oil is gone.
Global capital energy investment has been crippled.
The energy supercycle begins now!
Hail Petroleum! Hail SAGD!