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National Oilwell Varco, Inc. Message Board

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  • nli200808 nli200808 Jun 19, 2012 12:47 PM Flag

    Why is

    The trend is down.

    The trend has been down long enough that many holders are underwater.

    The trend has been long enough that many holders are starting to have L/T capital losses.

    None of the above encourages people to hold, rather it encourages them to sell.

    More selling than buying.

    Prices go down until professionals start to buy but they insist on returns north of 50% L/T.

    Just my 2c.

    Not a recommendation. Do your own DD.

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    • Makes sense --So true that we have to wait for major players.
      Maybe there will be a pop if Fed eases but I don't see them doing it, especially post Greek elections that didn't implode the markets. But then again that is why the markets have been heaving higher the last two weeks including today

      • 1 Reply to connie_cangelosi
      • US market is moving into a period of relatively lighter selling based on my models.

        I am expecting a nice rally in the broader markets from here. The short term trends are turning positive and suggest a price target of about 150 on the SPY.

        I don't expect NOV to do well based on my prior comments. Certainly not relatively well. If it's not going to do relatively well, then hedge funds will keep shorting NOV and buying SPY and will make money doing so.

        Just my 2c.

        Not a recommendation. Do your own DD.

        Best wishes.

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