Our inner Peyto contrarian indicator alert Fellow Peyto crew,
I don't like over-posting, so I'll be taking a break for awhile, though I'll read your PEY posts leading up to Q3. Let me mention one of the most memorable moments from Jim Cramer's first (and in my view best) book: Confessions of a Street Addict ('02). In it his (1st) wife, an expert trader herself, called the bottom of a market slump while Cramer's fund was overleveraged. He asked how she knew, and she said because the contrarian indicator indicated panic, so it was time to go all-in. He needed to know to what indicator she was referring--she replied: "You are."
I'm not an expert trader (more buy-and-hold), and I'm not dishing out ye olde investor troll move by accusing others of being the contrarian indicator. My 3 largest investments (Peyto, Yangarra and floating rate Canadian corporate prefs) are all relatively unpopular. That said, I sense higher than normal anxiety on the board, which tends to be made up of more knowledgeable and confident Peyto investors.
I'll be presumptuous enough to posit that if we as a group are emotional then there is significance to it, which I read as the stock approaching a low point (my guess: within the next few months). I don't use technical signals, but the stock isn't trading well, even compared to other O&G producers. I'm a deep value guy, so that suits me just fine. I suspect that anyone trading on momentum is either out or running for the door. I'll still be around when they return. Cheers...