MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas E&P

MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.

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MEG Energy Corp > Selling is right on time

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Comment by riskion Apr 12, 2024 9:10am

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Post# 35985197

RE:RE:Selling is right on time

Profit taking from weak hands on a red day when they feared their tiny profits would turn into losses if they didn't get out. Traders who "rent" the stock for a few days or maybe a couple weeks and jump out with tiny profits. Taking Eric Nuttall's cue as his fund recently sold some of his position.

And then whipsawed today. It will be sad to look at the stock price today after selling yesterday. This is why I don't trade. Pick good companies. Know what you own. Stick with the investment until it no longer satisfies your criteria for owning. Ignore the short run gyrations of the price and only pay attention to the long term trend.