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PowerShares Financial Preferred ETF Message Board

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  • ltbhdollars ltbhdollars Oct 12, 2004 4:19 PM Flag

    Thoughts on O&G Stocks Run Up/Down

    I have alot of red on my screen today, only my two MBS REITs and EVDVF are green. When the ~1800 OOTC daily price is in for my TSX listed Canroys, I will be down big. However, today had a confluence of several factors which explain why the dual listed Canroys, such as ERF and PWI, are down ~6.5% while the TSX onlys are down between 1.5-2.5%.

    O&G prices are down alot today and this is the factor that took them all down but the condition that occurs half a dozen or so times a year is the reason why the dual listed ones are down so much.

    US investors love Canroys, appreciate their yield and are willing to buy them at higher pps/lower distribution % than our Canadian counterparts. So when the TSX is closed and US exchanges are open, dual listed Canroys go up .60, 1.00 or more per share.

    Of course when the TSX opens the following day there is a price reckoning that can hurt the eyes to view. When an additional major force (like todays O&G futures fall) the downdraft is large and this is why ERF is down 6.6% today while TSX only stocks such as PMT.UN/PMGYF is only down 1.7%.

    Luck
    LTBH

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    • i think most people buy these thinking that the price of OIL makes the stock... It does to some point, but for people who buy the wrong O&G trust can get stuck... The real thing that moves the stock is the amount of oil they get from their property. The price of oil helps, but isn't the only thing to look at..

      i wouldn't be shocked at oil going near or over 60 or 70 bucks. Lots of politics are helping this... anyone agree?

 
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