The entire energy sector is in the midst of a correction. Crude is toying with $55 and still a sell off. Everywhere, all I see is red. We've all been looking for this to happen sooner or later and it looks like the selling has begun. This is new territory for me...I mean a selloff in the energy sector with crude prices rising to new highs. I think the big boys are gonna shake the trees bigtime and of course everyone has been waiting for it to happen sooooo....could be rather deep. Hope I am wrong but even if I am right I'm gonna hold and watch the red numbers until it quits. Then we'll have a new base to start up from again.....may be a good thing. A lot of nervious people right now with their fingers on the trigger. Shallow or deep really doesn't matter to those who know they are holding a good thing. Let the players play and the weak hands fold. Come next fall I'm gonna take my better half and go to southern Italy for a month or so compliments of KCS and my good judgement. Don't get caught in the stampede.
"I'm gonna hold and watch the red numbers until it quits." You have more tolerence for losing money than I do RogerJ. I continue to hold KCS and am still buying on any large dips but I'm out of the tankers waiting for rates to turn up. Nibbling at JADE and STKL and will buy SFL on any drop to 20 or below.