Post by
HighOctane89 on Aug 04, 2022 4:33pm
Dead investment
What a sad end to this company when I had such high hopes ....... I had hoped for timely updates but BTE is on radio silent ...... It seems that slow and mythodical is a pipe dream NIGHTMARE . I think BTE has been put out to pasture and when everyone has been broken the banks will "re-discover" this lost sheep .
Either ride the unlucky express or beat the banks at their own game . Oil under price pressure in this market is crazy unless you have an assurance that your competitor won't undermine your position . People , the fix is in and the banks want your nest egg , don't think they will stop before you are crushed . BSW with his $0.65 cent cost base will survive but will you ?
The banks and the fed want to crush the little investor in hopes it will force them to return to the workforce but smart money is dry powder and August always provides ample opportunity to grab shyte on the cheap . Ed let us all down but he only cares about a Muskoka chair now and a lake side dock . If you missed June 5 , 6 & 7 to sell , the palace of pain awaits . The fact that oil is in such short supply means nothing when the government says "OIL PRICES WILL COME DOWN" . I have been involved in the market for 35 years and I have never witnessed anything like this disconnect . It scared me to the sidelines while still holding a small piece of the anchor . Who knows , when everyone is freezing in a lineup for gasoline maybe then they will reassess their priorities . I'm in the stands on the 50yd line , drop by for a beer and we can compare notes on when sanity will return .
It is such a shame , BTE is so popular with retail players that the banks specifically target Baytex as an easy short , for all you know Nuttall is playing the same game . People have fallen in love with this mediocre player , I bet I can buy back in lower than today up until November . There is no tight supply , oil flows freely , phantom drilling is yielding huge phantom results , the market is awash in paper barrels which will be turned into paper gas and diesel which will all keep the left in power . SMALL VIEW BUT WELL FINANCED MYOPIC OPINION HAS DISPLACED COMMON SENSE , WHICH LOOSES , AGAIN !!!!!!!
Comment by
BayStreetWolfTO on Aug 04, 2022 5:14pm
Certainly everyone has a different cost basis. Also some need their risk portfolio money so I get it. As I have discussed with many diversification is always important. I preach many times I would never move safe money. I have banks, insurance, pipes etc. Not even CJ dividend would make me move and that is a nice divy. Just my opinion.
Comment by
bogi on Aug 04, 2022 5:19pm
I don't think it is dead - energy is still in a bull market but the whole thing BTE and others got pushed up just a little to fast . Things will settle down and by the 3 Q we might have a better picture of the energy stocks . Take your time with the Energy Bull market.
Comment by
HighOctane89 on Aug 04, 2022 5:23pm
bogi , have you never heard of sarcasm ?
Comment by
Snowballer on Aug 04, 2022 5:24pm
Actually I think Oil is in a bear market... 3rd day now that WTI is below the 200DMA. Some stocks like WCP are now under the 200DMA. Bear territory. The only thing bullish is the "narrative". This could all reverse soon of course but for right now, anything under the 200DMA imo is all bear territory.
Comment by
Alphaseeker1973 on Aug 04, 2022 5:59pm
I agree. This reversal is significant and spells trouble for O&G stocks. Technicals on oil show no stopping on the elevator down...equities are going to follow. By the end of the summer all the gains in this sector are going to be wiped out.