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October 5, 2005
Follow up to Apr.5 Suncor, Wed., Oct. 5, 2005, 12:10 PM
Exactly six months ago today I wrote a neat article on Suncor. I thought it was a good buy that day (at $40.73) for all the reasons I gave. It's down today, along with the Oil & Gas sector (GICS 10) this week. But five months after I recommended you look at SU, it was up +50 pct, also for the reasons I gave.
The recent couple weeks trading represents profit taking. It's likely to persist. The objective to trading is to buy low and sell high.
But Suncor is a company I will return to, like Imperial Oil, because these two are in the Cara Global Best 100 companies list for past performance and current situation, located in the prime properties of Canada's oil sands development. This development is the major source of economic growth in Canada, and it's only going to get better.
I'll let you know when SU falls into an accumulation zone once again.
Posted by Posted by Bill Cara on October 5, 2005 12:07:20 PM | Category: 10 Energy