Apache Corp. Message Board
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Testing lows?
What is everones estimate on the lows... I bought at 38ish... I know I will but tons more somewhere around there... Does anyone have an educated guess what kind of low (they) think it WILL go to?
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Well, if oil prices slide as bad as the last time the producers pumped to much oil, APA could get into the $20's easy.
I'm not bashing APA. In fact I'd really like to buy, but will wait to see how far the energy related stocks fall first.- 2 Replies to dlwester
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The current price slide has nothing to do with over production. In the financial community, the current bromide is "reduced demand due to global recession". As soon as America starts bombing IRAQ, this will change to "fears of possible supply disruptions". Also heard on the radio today, "a victory in the war in Afghanistan could lead to an economic recovery".
An analysis of these takes would lead one to the following conclusion:
1) The financial community has an enormous proclivity for ridiculous platitudes.
2) While resembling a crack whore on Ridalin, the vacillation of energy stocks mostly benefits the traders of Wall Street.
3) The financial community has no better clue of the supply/demand of energy than the Joe Six Pack that they would portend to advise. -
No way APA goes below 41.75, this is merely my opinion as I have traded this stock for months. Buy in the mid-40's and sell in the low 50's
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I think it will break 40, maybe 38, but I can't see it much lower.
Warning: My opinion is not necessarily shared by anyone else.
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