RE:RE:A bunch of you guys are getting pretty gloomy here lolPottsy wrote: Thanks Jay, I agree but don't see a breakout soon, CJ has changed, the investors have changed, it is difficult to determine what is going on. I am now a trader don't care about the divi but at 10 % I would be very cautious, use STOP LOSS at every trade...
Typically yes a 10% dividend is something to be very cautious about.
In CJ's situation all you need to do is pay attention to wti and the WCS spread. They are currently running ahead of the company budget so there's no cause for concern whatsoever. That said, I think we're going to need to see wti in the 90s for this stock to really get moving.
On the wti downside, CJ can hold production flat with limited capex and can cut back Aro expenditures so it is likely that there's no threat to the dividend with wti in the low 70s for a 6 month run. Obviously things are more comfortable at 80. currently there's no imminent threat that would warrant a significant price drop.