Baytex Energy Corp T.BTE

I was off by 6 cents... found support at $5.12

[Snowballer]

I think we see $5.33 soonish... now we could even see the $5.83 gap still close over the next few weeks and dare I say WTI might punch higher... So ya never know. $6 to $7 range would be an blow off top I think but I wouldn't hold my breath. The hot CPI numbers drive oil higher I think... I held off selling despite the target being hit cause WTI to me looked like there was/is some juice left. GL

[Snowballer]

nearterm downside to WTI is $79 to $82 range i think. May see the bounce from there. I don't think WTI is goig to capitulate below that.  Waiting game. GL

[Snowballer]

$84.50's did find support tho. So I just wouldn't be surprised to see this move higher. We could take out or test the $95.03 high on WTI from September 2023. I think that could drive BTE to the $6 or $7 range. So that's my two cents on the volatility spread. My money is on higher WTI - literally as I still hold my BTE position. For all the smart remarks of "so you're saying

[dllscwbysfn]

I think if we get to $95 WTI then a $7 handle would be very likely.

[Snowballer]

Nice to see that return to $5.30's today

[Snowballer]

I held and added in the volatility. My WTI downside target range hit at $81.56 (range was $79 to $82). I think we see the run soon... fingers crossed

[Snowballer]

Perfect hit at $5.33   Either that was the exit point or it wasn't. Time will tell.