The old days of the "Nuttal Bump"It wasnt that long ago that everytime Nuttal hit a top pick on Market call it was good for 5% pop. Long gone are those days it seems, on Aug 16th he gave ARX a nod at $26 and here we are at $22.85. Looking juicy on the $22 handle with all that cash flow coming back to shareholders. I moved on a while ago as its a very painful buy and hold sector. Could be other forces at play here, Biden was probably the best thing to happen to Canadian Energy, when trump took office in 2016 it was the start of a long painful period for the energy sector, I think he relishes putting the squeeze on the petro dollar nations (middle east + Russia + canada to a lesser extent) .
And today Nuttal is moaning incessantly about how solid fundamentals are and how oil prices should be much higher. It's sure nice not having to be bent over the 'barrel' when forces outside your control are going against your equity positions. As buffet loves to say, the market exists to serve you not instruct you. It served the hell out of us post covid. But having an overweight position these days sure feels like asking for a lesson. Looking to get back in at the right price. Stay disciplined. Glta