Surge Energy Inc (Alberta) T.SGY

Good day for a stock buyback

[tsoprano24]

Posted the same thing on TNEYF board. Of course, no one does a buyback when stock is cheap. Wait till it has gone up couple hundred percent to get the options bonus. And, yes, drawdown looks to have spurred sellers on, oil down 4%. Makes sense to me.:)

T

[VeritasVern]

Yes makes zero sense that oil is down 3.2% today, given the drawdown news yesterday. Today's oil selloff is one of two things. 1) Profit taking, although oil companies have been beaten down quite severely the past month and valuations are quite low or 2) the market is telling the Saudis - after they warned short sellers - we have more control of the markets than you.  I think it is reason

[brewster123]

The Debt Ceiling issue is what is driving this at the moment.  Resolve that and watch WTI move back to $80 quickly.

[Baystboy07]

Comments from Russian official is what tanked oil today not the debt ceiling issues. 

[VeritasVern]

Perhaps but I read that not getting the debt ceiling raised would actually support oil prices. At any rate a +3% decline yesterday when oil was already at a low of about $74 just goes to show how the traders are quick to discount oil, mostly on speculation while mostly ignoring the fundamentals that support prices. I think hte Saudis got it right, shorters beware. At some point when the market