A clip from BNN - The TSX ended more than 1 percent higher on Tuesday boosted by a 46 percent surge in Talisman Energy shares after Repsol said it would pay $13 billion for the producer; and - according to the business media the CEO of long-struggling Talisman Energy Inc. (TSX:TLM) says a multibillion-dollar takeover by Spanish energy giant Repsol is the best possible outcome for shareholders and he expects the deal will receive federal approval. To recap - Talisman Energy Inc. (TLM) closed Dec 16 at $ 8.84 up 2.87 for a one day gain of 48.07%.
Wednesday, December 17, 2014
Thursday, December 11, 2014
According to Investopedia; “a rising wedge is a bearish pattern that signals that the security is likely to head in a downward direction. The trendlines of this pattern converge, with both trendlines slanted in an upward direction. As the price moves towards the apex of the pattern, momentum is weakening. A move below the lower support would be viewed by traders as a reversal in the upward trend.”
In other words – in a normal up trend one could place two parallel trend lines bounding the rising highs and lows and create a rising price channel. But aggressive selling into each rally sets up a series of weaker highs which causes the upper trend line to tilt down toward the lower trend line to create a wedge. Some famous bearish rising wedges were INTEL March – September 2000 and the US$ index October 2000 – January 2002
Here we see Tesla Motors Inc (TSLA) falling down out of a large rising wedge – not as big as the First Solar (FSLR) wedge but still a worry.
Wednesday, December 10, 2014
Many “experts” quoted on stockchase.com still love Crescent Point Energy Corp. (CPG) - over the past two months they ranked the stock to be a hold (4), a top pick (2), a buy (9) and only 2 don’t buys. So now at mid day at $22.43 CPG is down 10% and the yield has soared to 11%. One of the recent comments of an expert (a few weeks ago at $35) says “He is quite optimistic on the energy space in general, but you always need to be picking good quality companies. Forgetting about the dividend, he likes this company’s growth profile”. Just to refresh - last July the price peak was about $47 and at the time just about all of the experts loved Crescent Point with “buys” dominating the last July – August window.