Investing

is now the time to invest in oil stocks?

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  • Mar 4th, 2024 9:55 am
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Deal Expert
Jan 27, 2006
21828 posts
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Vancouver, BC
IrwinW wrote: Thanks for fact checking; and what did price of oil do at that time?
I'm not sure you can draw too many conclusions in terms of the oil price as much of the swings in the past 4 years has been due to intervention from Trump directly or indirectly. Examples -> Trump made it easier to drill in the US which increases supplies, he also imposed sanctions on Iran and Venezuela which decreases supplies and then turned around and remove sanctions on Iran for certain countries for x amount of time which increased supplied, he talked with the Saudis about oil supplies (how much of an effect he had with them is debatable)...

Biden probably won't be as wishy washy in terms of oil. He has made it clear that he will rejoin the Iranian Nuclear Agreement which should see an increase in supply and he has made it clear that he doesn't like fracking on Federal land and I would assume put more restrictions and regulations on existing US producers which should drive up their cost and reduce the supply. In other words, Biden may be more neutral on oil prices than Trump.
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Oct 14, 2015
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Don't let the video title fool you; this is not off topic.

Member
Sep 23, 2016
284 posts
143 upvotes
thank God I still held HSE lol... now the question is should I sell or ride it up (or down again) Astonished Face
Deal Addict
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Nov 24, 2016
1816 posts
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bought suncor at 15.8 didn't sell at 17 was really sad when it started dipping all the way to 15.5 so i bought even more shares. then it dipped all the way to 15 so i bought even more. And now i have no more shares. What a great day.
Deal Guru
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Sep 21, 2007
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vince201 wrote: thank God I still held HSE lol... now the question is should I sell or ride it up (or down again) Astonished Face
I actually tripled my position with it. Bought more in 4.22. this was the news I was waiting for. Let's see this get to $5.25. Face With Tears Of Joy
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Jr. Member
Jan 30, 2020
149 posts
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i loaded up on SU 11/20 21c for a bit of a gamble that could pay off
Member
Sep 23, 2016
284 posts
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faken wrote: I actually tripled my position with it. Bought more in 4.22. this was the news I was waiting for. Let's see this get to $5.25. Face With Tears Of Joy
lol thanks for given me the extra boost in confidence... I didn't sell and instead, went in and bought a bit of CPG... Grinning Face With Smiling Eyes Gogogo HSE and CPG to $5!!!!
Deal Guru
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Sep 21, 2007
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vince201 wrote: lol thanks for given me the extra boost in confidence... I didn't sell and instead, went in and bought a bit of CPG... Grinning Face With Smiling Eyes Gogogo HSE and CPG to $5!!!!
I think this is the beginning of the shift in stocks trading sectors. Look at the volume differences.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Sr. Member
Nov 16, 2013
917 posts
329 upvotes
GTA
Got more than 100% increase in CNQ. Thinking of taking the profit and move
Deal Guru
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Sep 21, 2007
13019 posts
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Energy stocks.. keep going up please.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Addict
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May 31, 2018
1206 posts
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SK
faken wrote: Energy stocks.. keep going up please.
Especially IPL. Only another $2.37/share to go to my break even on it. Maybe by the weekend at this rate? Smiling Face With Open Mouth
Deal Expert
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Sep 19, 2004
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where I belong
FarmerHarv wrote: Especially IPL. Only another $2.37/share to go to my break even on it. Maybe by the weekend at this rate? Smiling Face With Open Mouth
LOL, my IPL ACB is $16 and I'll sell them all, enough is enough LOL

Can't buy-and-hold any Energy names
Timing the market is needed :P like buying CNQ at $20 CAD and sell at $28 type
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Deal Addict
Jul 30, 2012
2141 posts
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Bad Covid numbers and "Old" economy stocks don't blend well... Cyclical sectors lost their mind for a few days trading off of a successful Pfizer vaccine trial. While the results encouraging, systemic vaccinations are several months away.

Given renewed Covid cases, heightened Global shutdowns (especially N. America) are coming likely leading to another market retrench. There is likely another bus to catch for those that missed the recent rally.
Deal Addict
Jan 3, 2013
2806 posts
1152 upvotes
Sidney
DealRNothing wrote: Bad Covid numbers and "Old" economy stocks don't blend well... Cyclical sectors lost their mind for a few days trading off of a successful Pfizer vaccine trial. While the results encouraging, systemic vaccinations are several months away.

Given renewed Covid cases, heightened Global shutdowns (especially N. America) are coming likely leading to another market retrench. There is likely another bus to catch for those that missed the recent rally.
Exactly. Energy stocks acting like it was all going back to normal? Hopefully no one here bought.
Deal Fanatic
May 22, 2003
9312 posts
6334 upvotes
Vancouver
Don't mind if it drops some more, need to add more to my dividend portfolio

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