Re: My Very Humble Opinion
I sure don't claim to any expertise in the stock market or oil, but I'm going to say what I think anyway in the hope of inspiring those who know better to correct me (and maybe save me some money--I'd appreciate it! <G>)
I think FLC is being sold off more than its peers due to uncertainty about the upcoming earnings report. FLC+RB's combination, RB's dry wells, the report's non-definite date....all make the near term cloudy, and WS Hates that.
Re: Rumors that FLC will miss numbers---I think such rumors must be ignored. Even in my very limited experience I have seen these many times, and I will guess why: If a stock's price lowers and a stockholder calls his broker (who is clueless) and asks "what's with XYZ?", What will the broker say? "Gee, I dunno why it's down." Or will he try to seem in touch with the 'inside whispers' and say "There are rumors that XYZ will miss their numbers"? And of course this will spread like Wildfire.
Maybe the report will be bad, but I think the uncertainty is sufficient to account for the downward divergence from the group we've had in the last 7 days.
Added to the over-supply of oil that is depressing the sector, I think we may be looking Opportunity in the face here soon, one way or another.
My basis in FLC is ~$29. If OPEC and other news is bad through the first part of next week, and the price goes much below $26, I will consider buying more, depending on how things look at the time. If the price holds up, I will await the report. A less than glowing report may provide an even better buying opportunity.
Please, someone who knows more about these things,
STOP ME BEFORE I BUY AGAIN!!!
best regards,
diana |
