Tired of this company's underperformance. Other energy related stocks up appreciably over the last few weeks and most are up today. This firm, however, down over 3 percent today and up very little since December. I couldn't have picked a worst energy stock to own. Management needs to stop being so dour on their conference calls. Are they the only energy firm with a negative outlook? It sure seems like it. I should have just bought an energy ETF to avoid my bad luck of picking the absolutely worst performing stock in the group.
as a trader, took a small profit on nov late Thurs.....how nice to have it dumped in my lap 4 points on Fri. AM. I made 3 small trades then based on the DIRECTION OF THE 5sma PRIMARILY,and a fewn other indicators to verify the 5sma. Hope for more volatility on Monday. I pocketed about $350 just trading 100-200 shares. I treat all my stocks as ,traders, too much horacesheet going on on Wall St.
@wade - It seems to me that your timing was off, not your stock pick. Even with today's dump, NOV is up 8% from January 7th.
Times like today are frustrating. Price did not drop enough to make me want to buy ... just have to have patience and trust that it will correct towards what I think is its real value.
To be honest, I dumped my 200 shares today to lock in a 5% gain. It crossed back toward the 200 avgs. and may have found support, but the MACD signal line looks to also be crossing to the downside-- might be due for a bit more of a pullback considering Q1 might be weaker than expected.
This is not the only stock I took profits on today-- also unloaded EBAY, MA, ABBV, and KO (for 1% loss but it has been lagging and I needed the cash for other deployments).
I think NOV gets hit by being one of the last oil services companies to report. The excitement builds as the others report and then NOV reports solid results when compared to it's own metrics, but does not meet the heightened expectations of analysts. Might be a useful tool for trading into earnings though.
To be completely honest, I'm getting a little punchy in my reasoning as we hit the 14,000 mark. Too many headlines trying to push things around in one way or the other. All the while, S&P is still at around historic P/E if we get earnings of $100-104 for the year. Discounted versus estimated $113 for 2013, but doesn't look like that figure is a sure bet at this point.
I've gone from 30% cash to 65% cash and waiting for some good prices in the rails, food processors, credit card co's and payment processors, as well as some refining and oil services companies again.