Several energy related companies have been hit hard in the last two days which correlates to the accord reached with Iran. They will be flooding the oil market trying to recover from the sanctions. There is a lot of uncertainty when peace breaks out and messes with a strong market direction. The week of thanksgiving is very unstable, low volumes high volatility. Republicans are building up to the fiscal cliff again and want to see what happens when we get pushed over. In general the year has been a very good for all people in the market and they might be thinking of getting out to lock in their gains.
please keep the politics off the discussion board. Stick to facts on TEG. PRice of oil has not changed much since Iran deal. TEG is mostly nat gas. Which is relatively cheap and stable in US.
Mutual funds took profit.
The cost of operations went up for TEG and they missed the estimated earnings. So, as always, the anal ists went crazy and said "sell". So the sheep sold and continue to sell. It just cracks me up that one day it is a buy, the next day a hold, then the following day a sell. Better to buy and hold and not pay too much attention to anal ists. If I listened to them, I wouldn't have a dime left, doing quite well without them.
Thanks for the insight. A Mutual Fund newsletter I subscribe to downgraded utilities last month. Predicting revenue squeeze and low growth for the sector. TEG now up only 3% for year. My basket is getting killed today. CNP, OGE, VCC, etc.