Slow accumulation on this weakness. Oil and gas up today, with Apache and Devon down. I see a vicious sell-off followed by a healthy bounce at some point, but buying slowly always works better for me. Natural resource stocks will always see rebounds, and a cold winter could cause a nice bounce this winter.
New to this board. I have been in and out of this stock over time. Am holding a few shares with $95 cost basis. Would like to average down, but Egypt exposure concerns me. Will likely buy some more anyway at this level, but do you have an opinion on this exposure? I agree that these stocks trade way up and way down, so you don't want to miss buying low like this, but is $75 low, or is $60 low?? Obviously, you are buying slowly, so the answer may be both end up being low. Thx
My opinion on the Egypt exposure is that a) stock has already discounted their operations there to 0. b) all the #$%$ happening is happening a long way from any oil fields over there. c) Egypt needs the cash and Apache resources.
I bought on Friday. Would love more if it goes lower....or maybe even higher. I realize no one does this anymore, including me, but this would be a great stock to start accumulating for a five year hold.