Wouldn't you want to sell as much as you can while XOP is overpriced vs. oil?
XOP should be near $40 right now basing it solely off oil.
If Warren Buffet jumps off a cliff will you follow?
Don't you think the price of oil is already priced in to oil stocks? Everyone knows they are going to have a terrible 1st quarter. You are acting as if they haven't dropped in price while oil has.
Because this ETF owns oil and gas companies, not oil. If the stock prices of the companies go down, XOP goes down. If you want to trade oil then buy USO.
Remember, when oil was at $107 XOP was at $84. Now oil is around $50 and so is XOP. Seems a bit overvalued doesn't it? It's probably making up for that gap.
How long-term do you have to be??? lol The stock is down from $21 a decade ago to $1.50!!!!!! Long-term shareholders are nothing but fuqtards. Especially those who buy as the stock goes up.
Why the heck would you buy more when the stock has topped out both near term and long term? BS had to bust his behind to just get back to breaking even. SMSI is at the top of it's game, yet it's at break even. Pretty pathetic. The big players watching know there is little upside now, and that's why the stock isn't gong up anymore. They screwed away all their cash and are now left with just $13 Million, which won't do a darn thing for them. They have also cut their R & D budget to bare bones just to break even, so how will they compete in the future? Worst company ever.
Oh so that's how it works! MMs buy and the stock drops big! Makes sense!
FUQTARD! FUQTARD! FUQTARD! FUQTARD!
It'll be back below $1 before you know it. Always happens. It's like a magnet. I hope you dumped it, but you are too foolish not to take profits. You just like to watch it all get taken away from you. How many times has it happened to you?
There you go big money. Up nearly 10% already. Unlike the stuck bagholders who are afraid to sell on upswings, I know you'll take your profits eventually before they get taken from you.