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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.88-0.3%Jan 30 4:00 PM EST
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To: Cogito Ergo Sum who wrote (47459)2/7/2012 4:05:05 PM
From: Johnny Canuck  Read Replies (2) of 70311
 
It looks like BNP.TO is down because 60% of its production is gas. It has a similar chart to ECA.TO. It looks like gas producing companies are getting sold off in the light of CHK reducing their production and exploration activities on properties that produce primarily gas. Gas prices are at an all time low and only companies getting extra revenues form the liquids like propane and butane seem to be making money. Dry gas companies are producing gas at a loss.
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