Oil prices, natural gas prices near record highs. Oil stocks are doing great. PETD is near it's 50 day avg. Why?? Will it show institutional support now?
Guesses: 1) profit taking; 2) analysts downgraded oil/gas sector; 3) news of PETD buying futures to hedge prices indicates management thinks pricing trend may be down; and 4) MM analytical departments' intermarket analysis indicates greener pastures elsewhere.If true believer, then buying opportunity. If risk neutral, then check out Mr.Swing.com for corrective action.I was stopped out at $ 19.47.
Tom,Since you mentioned mrswing.com. Have you used the service? If yes, what's your opinion? Thanks. FL