RE:RE:RE:RE:Wow - a 32 % correction ....Yes, I understand not everyone is in the same spot as I am to be able to average up (as I am) or down.
Most of us have been here a while so assume the majority bought in below where we are today.
That said as my wife said this evening its like the old saying it is having something and losing it (even if temporarily) versus never having it.
To the point Snow mentioned complaining about $103 oil LOL....some only complain because we had $120 and have temporarily lost it. Same with the BTE price you saw $9 and temporarily lost it imo.
If i told you Jan 4th opening at 3.91 we would be trading at 6.30 today most would be happier than a pig in poop...but touching 9 now people are miserable. Lol
This is why I don't get hung up on the day to day or week to week. I look at 6mth/12mth
I get most people aren't wired that way nowadays
You probably hear the nervous nellies and bashers...which have not stopped in years despite the massive returns. It is great having them on ignore.
All you really can do is go back to your thesis of why you bought and if it still holds true.
For me this is supply demand. Looking at "TOTAL" inventory it is dropping.
Now media and bashers may say today a big oil build...which is really misleading "TOTAL" oil inventory dropped...oil only built as the SPR is not reported by the API
We can't change the media or the bashers...we can only look at the facts and wait for it to play out....
To put it in perspective if this was your bank account and the outflow was your wife's spending...and the black line was moving from cash in the bank to credit card spending....would you be concerned? I bet many would have a conversation on weekly spending.
Right now the US is on credit imo...and will be approaching the credit limit soon...2023....after that nothing left to spend.
1234bmth wrote: That is my point, not just BTE, I mean the entire sector is not doing good. As for adding more you are right, it is good to buy at this extremely low price, but unfortunately every body is not in the same financial situation as you may are to have more cash available to average down including me.
BayStreetWolfTO wrote: 1234, getting away from BTE... MEG also part of my allocation was down today 9.5%....I can't help but chuckle.. From $24.25 June 7th to $18.96 today...down over 20% in a few days. This is crazy to me considering the value I am paying for their assets. Again same situation if someone wants to short or sell to me at a discount I will continue to average up. I have so many I feel I am using money to buy discounted shares from CPG to ERF to SGY to MEG....etc etc... I have been around a long time I never complain about discounts. Give me a senior's discount and I will shop at your store.
1234bmth wrote: This is way more than a correction, looks like some people know things that we may not.
bogi wrote: They always come when most talk about " How high will we go ? "
Won't be the last time either I'm sure .