This is a new market, no corrections allowed, no sell in may and go away, overbought doesn't matter, all rules are off, buy buy buy...............................no NE for me right now, it will come back to earth just like everything else in the market, I do have NOV, COP, and some others that I thought were better values at the time I bought them, also been playing alot with FNMA which is a total crapshoot but been very good lately...........good luck to all and congrats to the longs who have hung on through tough times
I'm fairly active in NOV at the moment, more or less in the same way I work with NE. I have actually been working the puts in AAPL pretty hard, as I think the huge buy back makes puts a very attractive risk/reward proposition.
As with you guys, I'm totally wrong footed by NE at the moment. No choice but to wait.
Hi pOnY gUrL,
Haha....well with a market going straight up like this, they rotate into the sectors that haven't hit 52 week highs yet and rally them up. It's a frothy momentum market. Who knows when this no dip market takes a break.