The whole sector has been beaten, kicked, and left for dead. I believe now is the time to start nibbling at energy stocks. Regarding SM, when an insider (General Counsel) recently buys 500K @ 52-54, what's not to like around 46? Like they say, buy low, sell high. I'll be patient with a stop set. Actually believing for at least a 30% gain over time ($61 target).
Well, good for you. I was really worried about this stock (has always been one of my better oil stock trades), after buying small increments from the upper 60s down into the lower 50s. When I heard about the insider buying I felt ALOT better. Then it tanks down to 45 bucks this week!!! Unbelievable. I won't be buying more. Doesn't make ANY SENSE!! LOW PE, making TONS of money yet the stock craters about 50% from it recent highs. I'm telling you I'm getting REALLY TIRED of investing in individual stocks!!!!!