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Noble Corporation plc Message Board

  • nysfparachute nysfparachute Jan 2, 2014 12:33 PM Flag


    They didn't want to sell off NE and ESV this morning. There was all kinds of pressure on them from the market being sold off and Oil headed down. They only sold them off when the market and Oil continued to get weaker. My sense is that they want to rotate into these for 2014 after pretty dramatic underperformance in 2013...esp. for the seasonal strong trade. Oil may go lower (low 90's for WTI crude), and there could be another wave of pessimism on the sector, but I think you accumulate on weakness for what I still think is going to be a big rally. I had lightened up on both NE and ESV going into the last couple of trading days of 2013, but I'm buying back today. Volume is still pretty light and I think we'll get a better sense of short term direction early next week. As usual I also think we'll get direction headfakes on both the bearish and bullish side, and I plan to buy any bearish headfakes....hopefully that will be the right call....who knows, need to keep in mind that this has been a bull market for 4 3/4 years....getting long in the tooth? Don't know.

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