Tsx energy sector is 1.85 down today putting the pressure on CLL SP. I know what you will say. CLL was not up when the energy sector was going up. I do not have the good answer for this except that CLL debt to cash flow ratio is extremely high creating big discount to NAVPS.
Today action may have something to do with the most successful ENRGY investor Mr Pickens is shorting OIL and GAS.
After correctly predicting oil's climb to more than $100 a barrel, legendary oilman Boone Pickens said Thursday he is shorting both the oil and natural gas markets.
"I think oil's going to back off," he said, during an interview on "Squawk Box." "The weakest quarter is the second quarter. We'll drop $10 or $15 a barrel in the second quarter. I think we'll be back above $100 in the second half of the year."
"I think natural gas prices are unusually high now, and I think they're going to back off, also," he added.
