08-25-2015, 01:13 PM
Added two speculative positions today: BTE @$4.72 and VNR @$6.83. Also initiated a short term position in BPT at $38.64. None of these are appropriate for a DG investor, but could be multi baggers if they survive until firmer prices. Both BTE and VNR seem to making adjustments to insure their survival in the difficult climate. I'm not sure what would happen if BPTs cost of production becomes higher than market price for crude. IMO crude/liquids contraction has gone too far such that there is little downside risk left.
Alex