Recent

% | $
Quotes you view appear here for quick access.

Market Vectors Oil Services ETF Message Board

  • chuck_from_ca chuck_from_ca May 23, 2008 8:53 PM Flag

    Have energy stocks peaked for the year?

    It sure feels this way. This does not look like a normal correction. Any thoughts?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • ouch !!!!!

    • Yes they absolutely have. These stocks will slowely drift lower. Look at how the ag stocks poped. Check the ag charts. The drop won't be sudden but very gradual. Oil stocks will correct 20-30% from here. The same goes for coal and metals. The party is over. Any rally will be a selling opportunity. Today all these stocks lagged the market. This is a definite sign of a top.

      • 1 Reply to magsdaytrader
      • you guys have been wrong since the OIH was trading around $ 170.00 and will continue to be wrong. Stocks in this complex will not correct by 20/30%. How do you arrive at those figures or is it just a figment of your imagination.

        These companies have earnings growth of 20 to 30% for the next few years, backlogs for services,not to mention possible consolidation. Just because something goes up in value, more than most believe does not constitute a bubble.Look at Google or Apple over the past few years as examples. Sure they became overbought corrected and resumed there climb. As far as AG stocks go it's probably time to do some shopping unless like most on this board you like to buy high and sell low

    • Many economists and analysts, including major commodity traders like Soros say it is a Bubble now and will soon correct 15-20%. I am holding off until then and will buy more when these drop. Same thing happened with the China companies like PTR which shot up to 260.....then popped down to 142.....so use your own judgment. When it dropped by 10% off the high I sold most of mine...thank goodness.....i suspect something similar will happen here......always does....

    • The answer is NO. Pick your spots. Nothing has fundamentally changed. Even with the slowdown here China and other developing nations are sucking up supply as fast as they can. These companies have great earning visibility for years and now judging by what HAL just did we may also benefit from consolidation in this space. If you have staying power hold, if not wait for the market to correct and pick your spot to enter. Just don't let the doom and gloom crowd scare you out, they have been wrong on this huge move and in my opinion will continue to be wrong

    • 23-May-08 11:31 pm I heard the news tonight saying that the number of travelers in this memorial weekend appeared to be the worst since 1979.

      Coincidentally, just like today, the gas prices back then were at all time high under Jimmy Carter era.

      We all know a severe recession followed suit going into 1980s since the Fed had to keep raising interest rates to fight inflation.

      Looks like history is repeating itself.

      Once the US is in recession, then the rest of the world won't be left alone. Conceivably, the global energy consumption will then slow down in notable pace.

      Smart money holding energy stocks may have started to run to the exit before the scenario becomes too obvious.
      Rating :
      (No ratings) lili_didi


      =========

      Well said, lili_didi.

      I wonder how energy stocks fared in late 70s and early 80s in spite of the spike in oil prices?


      [Smart money holding energy stocks may have started to run to the exit before the scenario becomes too obvious.]


      Exactly, this is how the pros beat the little guys in Wall Street jungle.

    • OIH Resistance at 220

      = Possibility of Obama presidency.

    • If Obama is assassinated, just like RFK was, in June of (what year was it?), energy stocks would skyrocket.

    • Looks like gasoline consumption is peaking within the States, despite the world demands reportedly still rising. We'll see further evidence confirming that after the Memorial weekend.

      • 1 Reply to eski58
      • I heard the news tonight saying that the number of travelers in this memorial weekend appeared to be the worst since 1979.

        Coincidentally, just like today, the gas prices back then were at all time high under Jimmy Carter era.

        We all know a severe recession followed suit going into 1980s since the Fed had to keep raising interest rates to fight inflation.

        Looks like history is repeating itself.

        Once the US is in recession, then the rest of the world won't be left alone. Conceivably, the global energy consumption will then slow down in notable pace.

        Smart money holding energy stocks may have started to run to the exit before the scenario becomes too obvious.

 
OIH
26.65-0.87(-3.16%)Sep 23 8:00 PMEDT