Post by
Dogsbreakfast4U on Nov 02, 2018 7:18pm
Bottom?
Looking at the charts of the S&P-TSX Cappped Energy Fund it looks like we are very near or close to a major support for Canadian oil stocks. Watch next Monday or Tuesday for a bounce off current lows or a breakdown to the late 2015-early 2016 levels. The Iranian sanctions start Monday. Lets see how the market wants oil prices to go. As I indicated a few days ago HSE may soon test its support at $17.50. Canadian oil stocks have been massacred. Its now the law of the jungle out there now. The fit will survive and prosper. The others...
On a separate but not completely unrelated note MEGs CEO reminds me of a running buffalo trying to show predators it is strong and fast and can't be caught and put down. In the end when weakened by drought (terrible oil prices) or saddled with injuries (huge debt level) the buffalo WILL BE eaten by the lion(s).
Comment by
mrbb on Nov 03, 2018 4:42am
Meg is now what i call an 'opportunist beggar'. Certain Meg shareholders are now believing meg share value to be what husky can afford to pay instead of Meg's financial fundamentals. Even Nuttal is now saying it might be better to not sit on dead money til the deadline in January and hop onto other potential takeover candidates instead.