me a "technically weak" rdc (rowan companies, inc.) in february (or was it march) at 21.
br has looked and has been weak for weeks, but i bought more today at 38 13/16s. oil and especially gas prices are not coming down but a small amount unless the entire economy crashes (which could happen but is not likely -- i don't think the street is forecasting this by using br (and other ng stocks) as the messenger). these ng stocks have run up a lot since march, and the doubters who have sold recently will be clamoring to buy back in when this next round of earnings announcements happen in july. until energy is back in vogue (for real) i think energy stocks must prove themselves with great earnings surprises for the street. when this quarter ends in a few days, just one ng positive preannouncement of upside-to-earnings guidance will propel the group upward again. i know earnings are going to be great, and the guidance will be that further upside can be expected going forward. this end-of-cheap-energy cycle has many years to run.