PWE was trading around $ 32 just 10 days ago, I think the company pumped its stock in order to get better conditions with its Endev Energy takeover.
In my opinion, PWE went ahead of itself and should pullback at least to $ 32 or less -- IMHO, PWE is an outright SELL.
I made this prediction last may 22 -- about two weeks ago !
PWT-UN.TO was trading around $ 34 at the time, I guess I was right, it is now $ 31.50 --
My guess for PWE now is $ 30.80 (US currency) before the end of the week.
Could be an opportunity to average down, but imho, there is no rush.
Good luck all !
Have any of you geniuses noticed the price of natural gas? It's still rising and now at $12.38. Now take a look at the percentage of PWE's production devoted to natural gas.
Not to mention that oil prices are still very high, and this pullback is very temporary. Now do the math.
jetservice- You clearly made the right call. The question is, where do we go from here? I find it hard to believe that with energy prices where they are today, that there would be all that much downside in PWE's pps. Still, it could retreat to the high 20's again, causing me to go back on my Protonix to keep my acid reflux from erupting.
PWT-UN.TO now trading @ $ 31.85 on the TSX ... this is what I saw in my crystal ball just one week ago ... !
IMHO, there is nos rush to get back in, I expect the stock to drop some more in the coming days, sorry for those who just bought a few days ago --
My re-entry point would be around $ 29.50 - $ 30.00 (canadian $)
I also think that HTE is a better value as oil price is coming down, their refinery will benefit from lower oil price.
O/T look at WRLS, something is brewing as the volume and share value are both increasing since a few days ... interesting !
Good luck all !
You must be Short or just someone who does not understand Value. This Co. Pays out HUGE 11.87% Return + Growth that just can't be beat in this market. You tell me where i can get this kind of return on my money and then maybe i will listen. You say out right sell....lol... I say out right Buy in fact this is my Top Pick for this year to all my clients and family and friends. If you think it is a sell, you should short it while paying us longs the Fat 12% payout while you hope PWE goes down. Sorry fella, IMO you have no argument.
Just to tell you that I was right so far ... today (monday) while US markets were closed, the TSX was open and PWT-UN.TO last trade is $ 33.40 !!
IMHO, PWT does not worth more than $ 32, this will be my re-entry point.
Good luck !