Does anyone know any reason for quick sell off-- other than some short term profit takers?? Sell now and lose the .70 div next week. On top of that, this stock was already beat up and is positioned for a rebound come any cold weather.
I see this recovering at least half way from where it is now from yesterdays close.. I would say an 18.70 or higher close. Please comment if you have any pertinent information.
Who is left in the game? 1. Old timers like me that are in at an average of $29+ and held on through the panic of last Friday hoping that things get better. 2. Newbies looking for a fast buck by taking advantage of the panic selling. 3. Long term investors that have the patience to wait it out and see better times ahead (probably the smartest ones) Big day will be 2-08-12, then we will know what we have after the 70 cents gets handed out.
I bought in on the drop. Had some shares previously. I see this as a great long time hold. At the low levels they are at now and some dividend (great now, could be lower soon) and the fact that natural resources are limited. Also, where I live in the northeast some areas are using new "strech" codes for new construction. These codes only allow either natural gas or propane for heating. No oil heat allowed for new construction in these areas. Great long time hold!!!!