Don't mean to be the sole voice of concern on this thread, especially since I own several oil sector stocks (RDC, NE, GLM), but is anyone else concerned about the lack of sustainable momentum today in the sector? Even with all the "good news" (which I usually consider bearish), and the recent slide of most (if not all) sector stocks, no definitive gains were made. Intraday, the stocks were bought at the open, and sell blocks were kicking in by midday. Towards the end of the day, buying began again, but only lasted briefly. Although many of you are stating that buying in the last hour looked good, in actuality many of the stocks lost ground in that time period. Also, I don't think any of the stocks finished at (or for that sake, near) their highs. I am concerned, but still holding. I'm eyeing RIG, but want to see some sign of strength before buying in.
Am I wrong? Any comments are appreciated. Thanks. BC |
