Cardinal Energy Ltd (Alberta) T.CJ

sell then come back?

[vwbusman]

What are people thoughts on this?

I have some CJ and am doing fine with it.  I am a bit concerned Q2 will be underwhelming.

My thought here is to sell today (before earnings and before ex-dividend) and sit on the sidelines for a bit until the earnings let down and a possible Fed rate hike take effect. Then if there is a bit of a down draft, come back in to CJ.  Tax implications are not an issue in this account.

Good idea, bad idea?

[Sirlostalot]

Hello vwb , I don't think you want any advice from me , I've bought into CJ at $3, $5 and $9 and am kind of addicted to the dividend so have been holding all along and will continue too.  I do agree that q2 will be underwhelming but I think it will be quite telling where Mgt thinking is , if in a plus 70wti quarter and WCS much improved they are increasing debt again it will be a very

[JayBanks]

I added myself a month ago through options, but had stopped playing only because my CJ is way overweight at the moment. There are a couple ways to look at the upcoming earnings, Most will look at volume, what we got per barrel and revenue generation... all 3 of those I agree will underwhelm us... But if they scaled back on the CAPEX like we expected and just let things generally ride for the

[JohnnyDoe]

I think we're pretty safe here. Sure it might dip a little on the Q news, but oil is rising and will likely stay higher for a while. But additionally, the WCS spread has narrowed considerably and it looks like it's going to stay narrow for some time.  At 80 wti and a 10-12 WCS spread, the cdn oil patch is cranking out cash.  I think many stocks have more torque to oil than CJ

[TheWokeLemming]

The WCS spread has changed and is currently $20 not $10-12. It has NOT followed the recent increase in WTI. 

[JohnnyDoe]

I hadn't looked since last week. You're right, it's widen a bit. Sitting at 17 now. 

[harvester]

I see the spread at $14.50

[MikeNewTrader11]

Can I ask which website are you pulling your numbers from? cheers mike

[TheWokeLemming]

BNN now has differential at $15.  It can change a lot overnight and it's usually a day behind WTI.   WCS was trading at $59 just a couple days ago so that was the $20 difference I was referring to.  Currently at $63and change.  GLTA

[muslix1]

WTI Crude 79.31 -0.32 -0.40% (11 Minutes Delay)   Brent Crude 83.35 -0.29 -0.35% (11 Minutes Delay)   Murban Crude 84.78 -1.27 -1.48% (16 Minutes Delay)   Natural Gas 2.637 -0

[vwbusman]

So - update on selling at $7.20 and waiting for a dip. Bought back in three blocks at $7.06, $7.09 and $7.15 - I was not able to catch it when it just dipped under $7. Was it worth doing? Would probably say no - I would just hold next time. I did miss out on the dividend and did not really enjoy the stress of trying to figure out the best entry point.   Long story short - all things are

[Quintessential1]

So bought back in at an average of $7.10 with no divy gained about 2/3 more than the divy. I hear what you are saying about the stress and FOMO not being worth it but it could have been much worse as you could have missed out altogether so welcome back. It looks like pottsy faired better managing 5 or so times the divy and back in cheap but you do have to be ready and watching and then it

[Pottsy]

Quint, bang on, my same logic, you have to be patient looking for the downs which will come.  Thanks...

[Pottsy]

Buy on the dip boys, got in at $7.06....

[Pottsy]

My exact thoughts, got out on Friday and will do the same, results then possible interest rate hike. If you look at the stock chart over the last few years, peaks and valleys.  I'm  waiting on the next valley.  

[vwbusman]

Ok - I did it - sold at $7.20  - lets see what happens in the short term. I am still a big proponent of CJ - just trying to stay ahead of the curve  (without falling off the cliff!)

[odinburnz]

Vdub... What do you hope the price drops to?

[vwbusman]

Maybe a touch under $7 - we have had a nice bounce back and nothing ever goes up in a straight line.  If oil can hold well above $75, Q3 will be good for CJ so I won't sit on the sideline for long.  I am more or less testing out a theory here.

[odinburnz]

Thanks... Should be interesting to watch next week.

[Pottsy]

Hey VW what did you buy back at.  I'm back in at 6.85..   nice...

[Quintessential1]

Congrats.  A very nice swing for you.  5 or 6 times the divy and back to $7.20. But I think VW may have missed the boat which is always my fear. He does have a month or even three to get back in and swing another ER. GLTY and congrats to all longs.  Paid the div and bounced back to pre ER levels....nice.