...I'm not holding much in energy or nat resources. So I decided to take a shot at one of these that are crashing. In the past, this sector has not been kind to me....that's why I'm in general underweight.
Why this one? No great reason....its way under book...but I guess that could be exaggerated if their resource estimates are off, and if the price of oil/gas goes down. There was insider buying at this level a few months back, and more at higher levels during the past year. The last insider selling was in the $30's and $40's.
I got this one from smaycs, and he seem pretty good at truffling out value.
I scooped up a few more shares today for long term hold. Hedged on gas/oil decline, way below 24 book value, looking for a suitor to buy out this little undervalued gem. Exhausted selling today should be higher one week from today. Looking for upward climb from here.
SFY is very volatile with short term price swings and is highly manipulated by the market makers, so you should be able to make a good profit on a short term hold :) We hit 13 when earnings missed last quarter, so if earnings miss again I can't imagine it going too much lower as it is already beat up.