Dick, no arguments from me. I like SLB. My concern is/would be two things.
IMHO, technically, oils are in a buy position, but they won't move much until oil prices rise. Mucho hurt in oil revenue related areas such as Houston and La. Day rates low/lower, etc. etc. They might stay in a short trading area until oil gets a solid boost. I know SLB has more going for it, but oil prices will dominate sentiment.
If correction comes, they won't go down far, but will stay in that trading range.
However, everyone likes SLB, so it will be a fast mover. So, I guess buy and hold here would be a good thing. Just might have to hold for a while before solid gains are made.
BWDIK, Challo |
