Post by
HighOctane89 on Nov 18, 2022 10:35am
BTE strength .......
Gotta love how this baby is holding up , last time we saw WTI in the $70's , BTE traded down to $5.30 so holding on to $6.68 will be huge . Looks like the bargain hunters are on the prowl today , good luck to all . Cheers .....
Comment by
HighOctane89 on Nov 18, 2022 11:00am
No sellers to be found , looks like we close above $7 . This market is crazy , oil up means O&G stocks are down and when oil is down , stocks are up .
Comment by
Snowballer on Nov 18, 2022 11:03am
Give it time. Profit takers will show up who got the bottom today... already oversold on shorter time intervals. For now I'm holding. More of a swing trader than a day trader. But I like the jump off the 200MA on the 4 hour chart. think look good. I think I'll make good $$ on this trade provided we don't dump.
Comment by
HighOctane89 on Nov 18, 2022 11:25am
Just watching the overall picture , the algo's don't seem to be driving the bus down , just letting the asks be absorbed . I might be wrong but I think the negativity is done for the immediate future .
Comment by
Snowballer on Nov 18, 2022 11:30am
Yeah fair enough, could go either way. We are close to the 200DMA on the daily chart. $6.34ish would touch it. MACD on the same time interval nohwere near reversing. Watch n' see. Hope you're right about closing at or over $7 tho... I'd be well into the money!
Comment by
HighOctane89 on Nov 18, 2022 11:56am
I was worried earlier , the tsx's general behavior on a Friday is to sell everything and with US Thanksgiving next week , I could have seen today play out way differently than what we have experienced .
Comment by
HighOctane89 on Nov 18, 2022 12:18pm
Yes I agree with that , the speed of the hikes have not allowed the tightening to take full effect yet and they are still rising . There are so many forces at work you just have to remain nimble .
Comment by
riski on Nov 18, 2022 1:21pm
As the share buybacks continue, it takes out more and more short term/medium term traders who trade a very small percentage of the float among each other. The vast majority of shares are owned by people who see the value and are holding for a multiyear oil bull that is inevitable. So it holds up better without all the ADHD traders losing their nerve at the slightest change in the weather.
Comment by
red2000 on Nov 18, 2022 3:22pm
No matter what, fundamental datas still plenty top shape for Baytex ! Boe/d for Q4 expected at 87,000 or more. Already call by management, It's 4,5% higher of Q3. Buyback shares still very active. LT Debt will reach under 1B$ before end of 2022. Just bought more to see what is coming till end of the year ! Nice Week-end all !