RE:RE:RE:Big Trade At The End?I did average up today. Now at $7.20 from $7.01
I agree near term does look good.
masfortuna wrote: Wildfury wrote:
It's 50/50 with large block trades , some fund cashed out with another that wanted in . Market timing is hard to predict , should we have sold back in May when BTE was over $9.00 , probably , one never knows . For example ,Cardinal energy reaches a new 52 week high today at $90 oil , Baytex today was $1.60 away from reaching their previous 52 week high . Baytex reports tomorrow , Cardinal reports next week , should I sell half ? Maybe , it depends on how much it will run. Looking back over the past 18 months or so I probably could have accumulated thousands of more shares. Day to day trading is dangerous ,pullbacks after a run is almost certain . In Baytex's case , I don't feel that we've gone on a breakout run yet , not until it reaches $9.00 or more . There's nothing wrong in taking profits & buying back to increase your position. That doesn't change your long term view in my opinion , it just protects your investment . Looking forward to earnings tomorrow
I added at the close (no I wasn't that big block). My guess is that we haven't realy begun to run. If my numbers are correct, we should be below 1 billion in debt which puts us about 1q away from the magical 800 million. Does it look like oil will hold it's own for the next 3 months? My answer is yes and that means that accumulation should start soon. Also factor in all the stax loss selling that should start in the next few weeks and BTE should be a beneficiary of where some of that money will go. Finally we have the end of spr releases (maybe???), the russian sanctions taking effect, China reopening, and the midterms which should all be positive catalysts for energy and BTE happening in the next 4 weeks. So if I bought too early then so be it BUT I don't see a big ownside to the sp over the next 2 months. I do see us, however, retesting the 52 week highs.