<< In reality, the bubble will burst....someday...but for the MOMENT....I smell a mania 'bout to happen.....never ignore the power of the press....>>
Do you really think we are in a bubble at this point, Cosmo?
Valuations are still reasonable in most issues when compared with historical norms, and fundamentals are excellent looking forward. It does appear that E&P's are in the midst of a power move, one that will likely carry us through early next week, IMO. But after the usual backing and filling phase, I would anticipate a continuation of the upward movement.
Nonetheless, I cut loose my trading positions that I established last Friday in APA, APC and KEG. My plan was to hold until Jan 2, but the gains were fast in coming.
Remember the internet mania a few years back. When AMZN, YHOO and EBAY first came out, I immediately dismissed them as too expensive. I never bought any of them, given my value oriented background at that time. Sure, I've been proven right years later. But had I been more aware of the effects of momentum, stupid money, and panic buying, I might have been able to hitch on for 4 or 5 bags of a ten bagger.
I am beginning to realize the benefits of momentum, and it appears to me that gas stocks could still have a way to go before they top out. I personally am holding out for doubles on DNR and KWK. I'm looking at 75% for VPI and TMR.
That's where I eject, but I would not be surprised to see big moves beyond those.
Warp |
