You guys kill me. I do not trade for a trade with in the day. I find a company that has exhibited a trend for years (APA) in one direction and then everytime it pops like Apache I would short it. Although I have only been making this trade this year and was late to the game, there is no reason to swim against the currennt.
For reasons I am sure I have no idea of, APA will continue its slide down to the 50's within a year and a half. I would like to be a part of that instead of "hoping" it will go up.
For the life of me I can not even begin to comprehend why someone would buy this looking at a 2 year chart. If you buy here you are saying you are the smartest person in the World and from here on out things are turning around. Instead I say I am not the smartest person in the World or the luckiest and instead I will probably be a part of the same old thing and for APA that is DOWN.
Ignoring the fact APA has become the largest producer in the Permian over the past year? Oil patch veterans expect the Permian to return to glory as a more prolific play than the Marcellus, Bakken and Eagle Ford combined.