that's about where I got in it------before Haynesville was on the lips of every NG company CEO.......and ever investor.
It could be years to recover this gutting............energy service stocks are also diving, even though the offshore drillers have long-term contracts that go out for YEARS...........the market must see a way for them to break the contracts and stop drilling! WOW------what a lesson in market dynamics I'm learning.......RIG down almost 4 bucks AGAIN today!
I'm like a fisherman with this stock. And I am just waiting for a nibble, some indication to jump in or move on to another fishing hole. The real question I'm wrestling with is stay or come back later. Or I could follow it down on a good til cancel at 50 cents above the asking price and just keep re-adjusting my bid price until it starts to go up.
I already sold........watching it crash and burn is much more enjoyable when you're out of the car as it goes over the cliff!
They are gonna take this down to the teens now........for no reason, other than the market HATES NG....OPEC could decide today to cut production by 10 million barrels/day.....and the stock would still dive. Ike could switch course and knock out ALL platforms in the guld and tear apart a dozen refineries.....and this stock will still TANK! The # of hedge funds who are dumping is increasing like a snowball rolling downhill........as more of them implode.......more are picked up for the ride DOWN!
We'll be able to buy shares in the 15 dollar range by the end of the week!
Will be a good long-term hold over the next 3 years..........