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Bought some shares of NBR at 20+, hoping to see stock going back to the 30s. 55-wk range: 14.75 - 46.81. Chart shows a rapid decline starting from Oct 1997. Has it bottomed?! (http://quicken.excite.com/investments/charts/?symbol=NBR&period=1YEAR&othersymbols=&mavg=50&ImgSiz=450x250) Current m-cap 2.218 billion. Analyst recommendation is around 1.6. Any opinions on long/short term of this stock and strategies? Update January 2015: NBR is floating around 12.50 or so, with the MiddleEast dumping all the oil into the market they can to drive a lot of drillers out of business or to make it too expensive to frack. So where does this leave drillers such as NBR? Will we see it under $8? When will it rebound? Do we chase a falling knife? Do we average in and sit, waiting for a long-term (3+ year) gain? | ||||||||||||||
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