Sorry to say it George, but it always heartens me to see someone sell for a "considerable percentage loss". That tells me that some selling pressure is being relieved. Better to get that out of the way before I put my money on the table. But sometimes it's been me doing the selling, and then it's not very heartening.
What I think we have here is simply a nod towards weak 1st quarter earnings reports coming up. Let's face it, E&P budgets don't get revised overnight just because oil went up two bucks in one month due to promises by OPEC and other nations. The drillers aren't internet stocks, and they won't act like them.
What's happened is that the train took off a little too fast, and had to slow down, back up, then temporarily stop, because otherwise it would have arrived at the next station too much ahead of schedule. Just imagine the engineer and conductor stepping off the train to stretch their legs, lighting up a smoke (not too near the fuel, please), walking around a bit.
I'm going to be a hobo and sneak into a nice roomy box car for a free ride to the next city. I miss the dining car, but free is a good price for this ride. I'll be patient waiting for the engineer and conductor to throttle back up too, for the same reason.
Good trading, and jump on if you have strength remaining to climb aboard. |
