It looks like there is a curse on this stock. Performance since dec 31/05 is really thin, compared to its peers, like XTO used ot be 2 $ less than than ECA, now XTO 2 bucks above ECA's price. SU and CNQ has gone up by more than 5 % yesterday, and ECA has lost gain made yest.
Anyone thinks ECA shoul report a good 4Q 05 to kill its curse ? Any comments and facts
Go to Stockcharts.com and look at the point and figure charts for ECA and XTO which has been hot lately. I'm new to technical analysis but look at the relatively low target for XTO (64) vs. ECA (71). I own both plus a bunch of other energy stocks.
ECA has been lagging and there were some reasons for it (Valero deal, GAAP mark to market losses that people don't seem to understand) but it's still a great company sitting on a huge amount of unbooked reserves, plans for significant production increases, tons of cash, etc.