So....Sell in March last year at $6...or in May at $6,20 CAD and go away?? | CEN Message Board Posts

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Msg  14358 of 25993  at  3/22/2012 7:09:52 PM  by

inspired1


 In response to msg 14354 by  SIR COOP
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Buy

Re: So....Sell in March last year at $6...or in May at $6,20 CAD and go away??

We are starting to hear more negative market reports from all around the world so we could get a correction. If or when it happens, the baby usually goes out with the bath water.

CEN is producing almost 30kboed at $70 netbacks. That's $2.1 million/day or $735million for 350 days or said another way, $6.28/share netback. Today's sp is a bargain but it could go lower. I sold 60% of what I had left at over $20 so for once in my life I may have done something right. The few I have left have been paid for 2 or 3 times over.

SP is down 21% from its recent high. I just checked ARN and it is down 21% over the last few weeks too. Commodities are first to drop if there's concern about growth. It always hurts when you see your net worth dropping but my guess is CEN will be back above $20 within 2 months. JMHO


 
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