Bullboard - Stock Discussion Forum Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the... see more

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Athabasca Oil Corp > Bears are hibernating today

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Post by smallcaptdr on Oct 26, 2022 12:56pm

Bears are hibernating today

Ya, it came apparent that even with EIA and API showing surpluses that it came down to a weaker USD that rallied Oil. It was a krap shot thinking that Oil would sell off because 99% of the time when Oil shows a surplus that it sells off. It's great when Oil rallies higher when you expect just the opposite because nothing is better than making money on a bullish day. If tomorrow's GDP and Durable goods come in strong then Oil could punch its way through $90 continuing its bullish run and if the data comes in weaker it's hard to say what that might cause Oil to do. Next week will be a real test of what production cuts could do for Oil vs FED aggressive rate hikes. Below are the last readings for GDP and Durable Goods and one look shows a contracting economy. I'll call for lower Oil tomorrow that way it should rally.

US Durable Goods Order
United States Durable Goods Orders