It has been a great run in SLB since the mid $60s but the stock is looking heavy here. You are getting into the $77-$78 area which was distribution previously, the 200day sma is overhead and it looks as though this whole move from $55 is really just a bear flag which would bring the stock back down to retest the $55 level. Any thoughts?
It has been impressive over the last week how every $1+ gap down is bought up like crazy intraday.
Hey Karaokie, take it easy on the thinking, you're gonna hurt yourself. You can't tell diff from paid posters or neg pumpers. I simply thought it was tired this time around trying to hit $79/80. I said I'll be back. I kept HAL and DVN for energy do you feel better. I put half of SLB sale into CLFD in $5.80's to add to my position, other half cash still. We'll see jr.
Yea I agree I just sold the 150 shares I bought couple years ago. Average around $65. I wanted to see $80, missed $79's past week. Trading looks heavy to me also a couple neg articles looks pricey enough. $78.61 not a bad trade I guess. I'll be back.
You certainly have valid points however any correction should be bought based on their last earnings release. In this market stocks that have reported a good quarter are holing their own. Although I do agree to some extent that we may be a bit range bound until nat gas begins to spike up.