Oil at $80 but the Cdn stocks are slightly down today a strange dynamic; TSX a lot of random profit taking today. Tonight, Baytex blew earnings out of the water the sell off since the Ranger Oil acquisition was absurd numbers confirmed it today. Basically matched Crescent Point but the stock is under $5 Cdn ( down from $9 Cdn ). Baytex also has a stronger reserves portfolio then Crescent Point. I like both.
I made Crescent Point a base holding this week ( been trading it since $8.80 Cdn ), and added to the position on the drop today. Also rebought Whitecap Resources today and sold Athabaska earlier in the week at $3.52 Cdn. They both had decent numbers but Athabaska had made a huge move and the profit taking was expected on the report ( this occurs most reports ).
I'm looking for Athabaska to make a short term floor, for Whitecap to show some new momentum, and I may add even more Baytex if it doesn't gap up immediately. In any strong Oil scenario, they are all poised to rally off of solid to strong earnings at much lower Oil prices.
MEG Energy and Cenovus ( CVE ) also post very healthy numbers; MEG huge beat.


