Veren Inc T.VRN

Oil down 5% pre-market today

[mbuch]

CPG will close under $9 today.

Will be a good buying opportunity in the oil sector today.

[DaveInvestor59]

Yes, WTI is down big time this morning and continuing to fall. None of the analysts I've seen have given any reason why the big fall in WTI though. Unfortunately, I'm already "all in" with my energy stocks so I don't have any new money to buy the dip. It's going to be a big down day for my portfolio if things don't turn around. Anything is possible though, the last

[Paray99]

For sure, it will be a buying opportunity. Nobody should be selling..... BNN playing a cool of commodity game today morning and start praising the bitcoin. An orchestrated game for the big boys. We should see all the forces trying to shake off some more retail weak hands from commodities today for big boys.  Right now I can see some pull down orchestrated...... even Biden govt need it

[DaveInvestor59]

Yes, market manipulation does indeed exist in the markets, which makes it treacherous for retail investors. The prices of energy stocks haven't even come close to what their valuations should be for the level WTI is currently at, but the share prices will probably go down with the ship today anyhow.

[1condor]

Am I seeing this correctly?? This stock seems to drop very hard on down oil days but doesnt participate as well on the up days. If so, doesnt seem like a winning strategy in this environment.

[DaveInvestor59]

I totally agree with you, and I've noticed exactly the same thing. WTI has been up big time for the last few weeks, but the energy stocks have not been following share the same degree. On WTI down days they make huge leaps to the downside. I'm thinking of diverging out of some of these energy stocks. Right now I'm not seeing enough profit in my portfolio to justify being all in energy.

[LiquidOctopusV2]

Give it a minute.  Richard Spears said the top price for a barrel of WTI could reach $300. 

[DaveInvestor59]

I saw that prediction yesterday on BNN as well, but I'm not sure that I really believe WTI can go that high. The general population certainly doesn't want it to, and I think governments would find a way to manipulate the price of WTI back down again somehow.

[Moemoney42]

Steven Shork was just on BNN giving a realistic breakdown of where we are with the sector these days and I completely agree with his take on things.. I highly suggest you catch the replay.. today's pull back from all time highs is expected.. FOMO's can now get in cheaper.. NCIB can be bought cheaper.. and the MA's can catch up.. even at today's pull back in price, or for that

[spacegimp]

Heck anything over 80 bucks wti and my core oils (wcp, cpg, arx) are still terribly undervalued. I think most if us here are way way ahead of the curve so the commods rally feels painfully slow especially if you entered positions before say 2016. I recall getting large position in IVN in 2016 and spending months being very frustrated as to why the market was valuing the biggest new copper deposit