Baytex Energy Corp T.BTE

Hey Guys Serious Warning Ahead... Just A Word Of Caution

[Snowballer]

And obviously just my opinion. Look at the monthly chart on WTI.  We are early 70's on the RSI (14 & 10) Then look at 2008.  Once we hit the 80 RSI bad things are likely to happen as they do when 80 RSI on almost anything hits. But it can remain in oversold territory for months at an 80 RSI.  so there is time. But not much.

Best case I think for WTI/BTE is a run.. a final run.  I do not think this is a multi-year bull market ahead but rather another financial collapse to ruin the party.  And unfortunatley choas and market doom at minimum to the scale of 2008 and that would be a soft landing I think.  It won't matter about "fundamentals" of structurally tight oil markets in 2023.

Oil prices and oil stocks will very likely roll over within 4 - 6 months IMO or much sooner. I think this will be it for me here soon.  I feel lucky/grateful that today performed how it did and am expecting a rise over the next few weeks.  There is NO WAY I'll be hanging on for the full ride into 2023 and will most likely bail between $10 and $15 if we get lucky enough to get there.  We may only get back to $8's

I get it, many disagree so no need to bash.  No matter how you want to slice and dice it, we are near the top. I think WTI could run to the 52 week high or even surpass it.  But it will be all red soon after that.  I give it a few more months.  Lots of money to be made but lots has already been lost in the markets.  Just the begining.

The Fed is going to kill the economy.  We haven't even touched on what happens when China invades Tiwan... Look what they blame Russia for in terms of supply chain issues, inflation and shortages.  Just wait until China sancitons the entire West and cuts them off.  And what's the plan for Monkey Pox? Not to mention covid19.

There are big plans to RESET the global economy.  "They" will not miss the opportunity as the pendulum has started to swing, backing off that far left extreme appetite.  Question is how soon will central bank digital currencies step in as the saviour and cure to impending doom? lol

I will (and hope) I can eat these words and be laughed at and ridiculed.   I'll be the first to point out my own fear mongering and foolishness.  So, timer is set.  See how high we can get BTE before we should all seriously consider taking final profits.

GL

[JohnnyDoe]

who exactly are the infamous "they" you are referring to?

[Cobalt]

Way too much conspiracy talk and projecting it into the future for me. Been through a few oil cycles sure it ends, how nobody knows , this is why i take a good % off when overbought and look to reload if the bull keeps going , longer we go the larger i take off (and reload) that way i'm not caught holding extremely overweight , Good luck

[Moemoney42]

Agreed Cobalt.. I don't buy snowballers theories.. the dynamics of todays O&G sector have changed greatly from the "drill baby drill" days.. the industry is more pragmatic these days and the lack of investment will haunt supply for years maybe a decade, before any substantial supply comes into play to affect the trend.. why do you think Buffet is heavily invested into the sector

[Snowballer]

I like your approach.  I too am taking a good % of profit as this goes on.  As for the "conspiracy talk" which part is the conspiracy? lol The intentional RESET of the world economy? Not a conspiracy. It's openly promoted and talked about by world leaders. The use of the pronoun "They"?  Not a conspiracy.. just refering to the political globalist powers who

[Cobalt]

So what is your play if right  Gold? Fine Art? Hobby farm? Night vision?

[Snowballer]

haha well I think cash is under rated... Like others i'll be patient cause things will bottom and then we do it again (ride up).  The world isn't ending tomorrow just because a recession is going to happen.  But the financial risks ive outlined are pretty real I'd say and a new digitial currency could be introtuced in as little as 10 months or maybe it's longer who knows?

[Moemoney42]

well snowblaller.. although your points each could carry a healthy debate.. I think you're being a bit dramatic.. after all if the gov'ts want to confiscate everything they already have the tools.. :-/  And C. Freeland is trying to make them even more effective as we speak.. :-0  As far as crypto.. well, in my mind "thoretically" all the money sitting in the banks can

[Snowballer]

Which is it, my points could carry a healthy debate or I'm being dramatic? lol I did not invent any of these points. They are continually in the public domain and being monitored by whomever wants to clue in. Just bacause a government could confiscate everything doesn't mean they do it all at once. And your the one who brought up the idea of confiscating things.  But it's all

[Snowballer]

Oh yeah and now the Canadian Government is going for the guns.  hand gun freeze. 

[Moemoney42]

Both.. as per your response.. personally I'm not afraid of digital currencies.. or the new world order..   :-/

[Snowballer]

Kool. The idea that the government or its central bank would control my 'tokens' and can prevent me from accessing them (or how I can spend them) if I'm not a "model citizen according to them" makes me very nervous - especially with ESG wokeness and policies.  As for the new world order that also makes me nervous if the US is gonna be overtaken by China as a superpower

[Maxmoe]

I don't mean you Moe, or any Moe, but reference to this scam as a digital "currency" is fraudulent imo. It's somewhere between a Ponzi scheme (definition "A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors.)" and money laundering. Imo. The vast vast majority of real currency transactions already are "

[Cobalt]

BITI ETF short Bitcoin with that conviction you are rich good luck

[BayStreetWolfTO]

Bitcoin..a millenial craze gone bad....65k to 20K ?

[Cobalt]

Bored people sitting at home , covid, getting free money thinking they are traders , fomo kicks in bam 69k LOL perfect meme top for the meme traders. No more easy money , so many bubbles.