Chart source: TC2000
Vermilion (VET)* $10.68 – A LOTM: Ten Under $10 position
Stock specific but related to the Oil & Gas industry.
Momentum is still on the bullish side but pretty much across the sector we are seeing some fatigue. This is a chart of Vermilion (VET) $10.68 I really love what is going to unfold at the company but in the short term it looks like the shares are going to pull back. The company is solid financially, international in diversification and “one day” is going to reinstate its monthly dividend. Vermilion could pay a dividend now from current cash flow perspective, but it still has a goal of debt reduction. When they do pay a dividend, I anticipate it to be in the $0.10 a month area.
In the short term, you might consider selling out of the money calls against the shares to bring in some cash.
The further this stock might fall below $10, the more aggressive we would buy.
In the LOTM: Ten Under $10 grouping we will hold and add on weakness below $10.
By Tom Linzmeier, Editor, LivingOffTheMarket.com October 28th 2021.
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* An account related to LOTM holds a position in this security.
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