I bought Suncor when everyone was proclaiming the end to oilsands companies after Opec+ tried to fuck us into bankruptcy. I also bought up other pipeline companies like Pembina, Enbridge, etc. when every woke tree-hugger was proclaiming the end of oilsands companies and how the west needs to unite and cut off the hand that feeds them for..... reasons. My only regret is that I did not purchase more. It's hard to believe now, but in less than two years my XEG ETFs went from under four dollars to close to $14 dollars now. And it's still getting up there, LOL. I still have LEAPs ready to expire end of this month that were set at a strike price of only $2 when I shorted those PUTs (I shit you not). And I was paid a good premium for that too. Was pretty much the easiest guaranteed way to print free-money. Thank you woke-people... I'm not so sure I'll see scores like that again in my lifetime, but I am happy to have played my part in providing liquidity
You're a fellow Canadian trader right? I prefer CNQ over the other Canadian majors. The only energy stock I would prefer over CNQ is CVX.
^^^ this is the reason i should stop giving our free lunch. i have to start charging ppl for valuable info that can make them alot of money.
That Putin pisses me off. I did my first ever batch of naked calls on Buffett's Suncor, and sure enough the next day he invades causing oil to go into the stratosphere. At the current moment the stock price is on its blitzkrieg race to my strikes, and I have no cover. Haha. I sense I'll be rolling my losses forward for a couple years (or longer) depending how long it takes to squeeze those Rooskies out. Ok all, let that be a lesson. Murphy always punishes those who short calls naked. Don't bet against Putin!
The best way to play this cycle are some of the mid caps and larger juniors. More torque. I do like Cenovus and Arc Resources to do well in the steady eddy camp. The fundamentals for Baytex, Enerplus, MEG Energy, Gear Energy, Athabaska are being underestimated by markets ( for example there are others ). Arc is cheap. I do take profits at times ( like Friday I sold a ton of stock ) then rebuy if the signals are good on WTI., world news, daily price moves. Nothing wrong though in owning CNQ, Suncor, Cenovus, Arc Resources ( more nat gas ) if you want an almost certain profit over the next 2 years in any scenario.
I have had it on my watch list for a few weeks now, but that's where it will stay. I do not like it at these high prices, especially since the returns of the company are not very consistent. If we go through a 2-sigma fire-sale this year as many 'gurus' are proclaiming, then maybe I'll 'invest' in some. Lets see what happens at the next rate-hike