Baytex Energy Corp T.BTE

Bank Of Nova Scotia Pays a 6.2% Divi

[Snowballer]

Also going after the banks here in 2023... thoughts?

[TheWokeLemming]

  Foreclosures increase with higher monetary policy.   I'm avoiding the banks.  

[Snowballer]

Which is what will make their price look so attractive I think. FEAR. There is a nice trendline for every big market crash.  I think this is a good time to start adding.  I see $50's for BNS as the downside and $85 as the upside. That is a nice yield to start the buying I think.

[Snowballer]

Think of the pop when Fed pauses/eases over next 6 to 12 months and tightening turns to easing.  Buy into/during recession fears and actual event.  Get a $20 to $30 shar price pop within 3 years I bet.

[investmenthound]

There is that devestating 1.7 trillion dollar omibus bill. Cannot see America recovering from that. Tax payers are broke after this, they just dont know it yet. Would not buy here. JMHO

[TheWokeLemming]

  Each to their own.  I prefer my 10.2% yield in Cardinal Energy and the possibility of oil being near a bottom.  The soft landing looks a lot more plausible and that should raise gas demand prior to the bottom of the housing market IMHO.   

[Snowballer]

That's a good thought.  What do you think about CJ's divi getting cut if oil remains in bear market and lives in $60 range for a bit? Likely or not likely on divi cut?  I'd like to add CJ if we head back into $6's or $5's

[TheWokeLemming]

  If oil does go into the mid-60s then all bets are off on the divvy.  Already they've most likely stopped buying shares back.  Obviously I'm a believer that oil is going higher and hopefully tests your $87-$88 top end in the near term. 

[Snowballer]

Yeah in looking at the quality (resilience) of the two yields, the charts on the banks look SIGNIFICANTLY Stronger.  If BNS dropped to $25 in 2023 i'd put 100% of my money in it lol. But If the run continues (MACD looking GOOD!)I think we coud test $78.  Right now the MACD on the oils and the banks are polar opposites.. BTE may hit the $5.88 range Monday but could just as easily

[Snowballer]

Per last post on this we hit (slightly exceeded $5.88 range) today and currently the weekly candle is red with a topping tail. It's the monthyly charts on the Meg's, BTE's and CJ's of the world that look absolutely terrifying to me.  My bear case for oil over next few months is WTI $43 range as a "bottom".  Not saying it will but this is how I'm measuring

[Snowballer]

Also just to point out on BTE... This is the thrid red monthly candle in a row all with lower highs, lower lows (well last two both bottomed at $5.51 so far).  So when the MACD is now crossing on the monthly... just be prepared. I'm posting this not to fear monger but in a way yes to remind myself others there's always significant risk to the downside with these things and the

[dllscwbysfn]

Well I appreciate your calls and you very well might be right. How would OPEC respond to 45WTI, or 55 or 65. Charts are great but things have a way of evening out. What would happen to capex of all the oil companies. They would have to borrow to continue with there plans. Just saying there will always be a reaction to everything.

[Chrisinvan7]

Loan loss provisions increase and lending stalls as well. Much better places to harvest yield than the banks.

[Snowballer]

what are some of these names you would suggest??