Down 30 cents in 2 days is not healthy. I would be very worried because John Q Public obviously is more worried about OPEC and the UAE than Wolf.
BTE price targets
At $70 oil it's a $2 stock
At $65 oil it's a $1.75
At $60 oil it's a $1.50
At $55 oil it's a $1.25
At $50 oil it's 99 cents
Clear as mud. The above numbers can't be disputed as evidenced by the 30 cent drop that occurred following the news about UAE. BTE is down 30 cents following a $3 drop in the oil price. At these accelerated metrics but even Wolf can argue the price targets.
My humble opinion is until the UAE situation is resolved it's going to be a rocky descent in the oil price. The UAE drama has topped the oil price for the year. I was excited to tell me Dad BTE was $2.60 but can't now because it dropped so violently the last two days. My Dad is a realist and he only wants to know the share price, not the potential. Telling him this guy Wolf thinks it's god if th price drops won't cut it.
Oil sure looks like is has topped at $75 oil and that's a $2.50 stock. Nothing more and nothing less.
$85 oil if it happens get us to $3. Every $5 in oil means 25 cents either way and we can all agree on this.
No one should be happy about the last two days or the price action.
I think oil is going back to $65 here with the noise and that means a stock under $2. Sorry, don't shoot the messenger, it is what it is.