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Bullboard - Stock Discussion Forum MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

Energy Oil & Gas E&P
MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. It transports and sells thermal oil (AWB) to customers throughout... see more

TSX:MEG - Post Discussion

MEG Energy Corp > huge US payroll numbers...
View:
Post by cashtango00 on Aug 05, 2022 9:02am

huge US payroll numbers...

should juice the USD and all but guarantee more rate hikes than the market was pricing.   not great for stocks.  WTI has major support at 81.90.  keep some powder dry.
Comment by TheWokeLemming on Aug 05, 2022 10:18am
This selloff was well overdone.   More jobs equals more interest rate increases.   If you believe the lies from the EIA about demand then yes keep your powder dry.     
Comment by cashtango00 on Aug 05, 2022 10:27am
The EIA numbers smell fishy for sure, but in this environment, always have buying power ready.  anyone who lived through the oil market 2 years ago hopefully learned that lesson.  Long term fundamentals are sometimes less important than flow and vol.   
Comment by TheWokeLemming on Aug 05, 2022 10:41am
I'll agree with that.   This is a traders market but long term there's a supply shortage.  Biden and the EIA are reminding every energy company not to spend money investing in expanding production.   Looking forward to November midterms.  
MEG Energy Corp
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