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NuStar Energy L.P. Message Board

  • kerfinator kerfinator Jun 23, 2008 6:55 PM Flag

    Let's keep a level head...

    Today's action was nice...It felt good being up 2%...but I think that it must be kept in the proper perspective. Up 2% seemed like up 10% because of the brutal selloff we have been experiencing.

    We have been plunging for over a month now...I believe that the stock is just having a technical bounce. It was due.

    It would be tempting to start averaging down on a day like today, but that thought passes quickly. We are in the eye of the hurricane, and there is another leg down to go I'm afraid.

    The fundamentals are bad across the board and the market is selling off. I wish the news was better, but another wave of selling is coming. I'm waiting for my price target...any short term buying will only delay that date.

    Waiting.

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52.86+1.22(+2.36%)Aug 28 4:02 PMEDT