Q: Hi Folks,
I currently own CNQ in my non-registered account. I want to add it to my other accounts ( TFSA and RRSP ) in which I have no direct exposure to oil. My question is, am I too late to be adding a new position considering the run that CNQ has been on or do you expect oil prices to continue rising?
Thanks
I currently own CNQ in my non-registered account. I want to add it to my other accounts ( TFSA and RRSP ) in which I have no direct exposure to oil. My question is, am I too late to be adding a new position considering the run that CNQ has been on or do you expect oil prices to continue rising?
Thanks
5i Research Answer:
We think oil will normalize back down to lower levels, we just don't know if it is going to take 1 week or 3 months. With some exposure in CNQ already, we think an investor can be patient and maybe on a weekly basis slowly build a position, adjusting things as more clarity develops on the current geopolitical issues.