that SLB would drop $10 in 2 days when we are to get earnings on the 18th!!! This is terrible. If earnings are not going to be good, would not SLB have been required to issue a warning? Surely recession fears don't impact companies like SLB this quickly. What about all those guaranteed contracts and revenues?
Mr Jaxala : I do not know what world do you live in....but in my world ( The Wall Street ) we don't take any prisoners. They just shoot them all. When the psychology gets this bad as it is now.... it is the specialist system that is the root cause of this decline - in chorus all the way around.
In the supreme wisdom our beloved regulatory body The SEC changed the laws for short selling a while back. Before you needed an uptick to sell short. The uptick rule that had served the PUBLIC interest ( somewhat) was recinded. So it's much easy to do BEAR RAIDS in a stock. When The tide is going out then all the specialists act in a chorus and walk away... Their franchise requires them to put a bid in when there is none.... have you not seen SLB open on 800 shares down 1.50 and then go down from there....till a block is acquired by the specialist 3.00 pts down. They work the stock up and dump the stock after 1.80~2.00 higher.
THOSE WHO HAVE THE BALL MAKE THE RULES! That is the real world. In 1972 there was a good book Published- "The Wall street Jungle" by Richard Ney. I suggest you read it over and over again as many times as needed.... It will answer all your questions.
Right now we have been operating on fear psychosis for last couple days... for SLB since 10-12-07 .
SLB has exhibited extreme volitility since 10-12-07 It's a growth stock. The best of the breed BUT the trading volume is large enough for the Hedge Fund Cows to come in and conduct Bear Raids....
I probably have parted with more capital since 10-12-07 than what I will make in 10 life times BUT I ask only one question : Is the oil cycle over? The answer is a resounding "NO". we have just entered the 2nd half of oil cycle... we have long ways to go... The opra ain't over till the FAT LADY SINGS! So Relax, don't get uptight. It too shall pass.... THERE's ALWAYS CALM AFTER THE STORM, BUT NOT FOR BOATS THAT CAPSIZED DURING THE STORM...
SLB was 36 when I looked at it in 2003? I passed it by because I was still in the first half of oil cycle. but in OCT 2004 I picked it up at 66 (33 for 2:1 split).... ANYMOVE, if you pick the bottom of the move you are extreemly lucky...BUT if you also pick the top you gotta be Genious. The OIL made the bottom at 10.80 $/bl around 3-14-99 suffice to say, we have yet ways to go before the FAT LADY SINGS....
Do not be disheartened. This is how our capitalistic system works. They are just "SHAKING THE OLIVE TREE" to see what falls down for easy picking.
This is what is sometimes called a "bear market." Welcome to the real world. What you're now seeing has been long overdue. That said, if you believe in the future prospects of the company, don't panic. Have you never gone into a market and bought something only to see it go on sale the next week for half price? Happens all the time. Get used to it. Look beyond tomorrow or next week. I always wait for a sale to buy things. The sale signs have gone up.
It is the market and nothing to do with the individual stock. MOS blew earnings away smashed profit and revenue numbers but is still getting dragged down when it should have jumped hugh on earnings call. Just ride it out is all you can do.