Beach Energy was the best performing stock on the S&P/ASX200
today with a surge of 15.094%.
Normally I would be excited with such a jump in a single
day but unfortunately Beach Energy has traded as high as $1.442 over the last
12 months and after today’s surge it is still only trading at $0.61. As you can
see the stock could jump several times like today and still be trading massively
below its 12 month high.
I do think in the long term the price of oil will slowly
trend higher as the world’s growth continues. But in the mean time we might see
further swings like today in oil based shares as the price of oil trends up and
down. At this stage I'm more then happy to continue holding BPT shares and although not purchasing any more at this stage will be watching the share price closely.
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