Cardinal Energy Ltd (Alberta) T.CJ

wti in free fall

[loopsbutterfly]

cj is going to $6,75

major support at $6,60

[loopsbutterfly]

Is there some taker at $6,79 ???

[UltraTired]

"WTI in free fall". Really? $77 range is "free fall" ..... get out of here!!

[divime1]

The next OPEC meeting is June 25 . Oil dropping like today is a message to OPEC about what will happen if they have any ideas about increasing production . Summer driving season starts  in the USA  this weekend . 

[VeritasVern]

The "message" to OPEC has been sent to them for the past year at least and likely shortly after inflation began. In case you don't recall, OPEC would announce production cuts and oil prices would decline. Fundamentals play less of a role and messaging and control of markets is more what is directing prices lately.  

[Nielsxja]

OPEC+ meeting is scheduked for June 1st, not 25th.

[loopsbutterfly]

really???  oh yeah down from a top at $86,68

[UltraTired]

It was hovering around $70 at the beginning of 2024. Hardly a free fall, unless you want to make drama.

[loopsbutterfly]

It is going right there....just wait and see by yourself...

[lnggasfor202324]

Short it then≥. Put your money where your mouth is.

[loopsbutterfly]

no....I am buying on weakness

[lnggasfor202324]

I thought oil was in a free fall?

[UltraTired]

So, are we in "free fall" yet?

[loopsbutterfly]

I really dont know if the plunge is over but I went fishing for some cheapies lately just in case we have hit the bottom.

[UltraTired]

Well, WTI is back to $80.4 at the moment, so if we are in "free fall", we are falling up.

[lnggasfor202324]

Not a goog idea for somebody who says oil is tanking.  

[loopsbutterfly]

time will see if I am right

[loopsbutterfly]

guess what??? I have been right...as usual !!!! gracias    grinnn...

[VeritasVern]

Loopy you've been nothing but wrong in past which shows you know much about anything. The drop was related to OPEC+ and the reaction to that, whether is was warranted or not. Did you call that knowing OPEC+ was meeting this past weekend and make a prediction? Did ya sell before this decline, if not why? Where's the bottom before going back up or will it stall and at what price?  Back

[loopsbutterfly]

wti is in free fall.....think whatever you want....I have been right on it...

[lnggasfor202324]

OK know it all.  Why didn't you short oil last week when I asked you?  You said your buying on weakness.  You know after the fact.

[loopsbutterfly]

Yes I am buying on weakness...slowly but surely I will buy more shares today..... I bought a big chunk around $6,75 and will avrage down today

[loopsbutterfly]

veritasvern....yes May 24,2024   9:27 am ---it is going right there.... gracias     grinnnnn...