It will turn NE into a rocket ship down the road, because the world has not changed as much as some would like to think ... the world needs hydro carbons to survive. The biggest worry there is ... a world changing technology for energy, but who knows if that will ever be found.
Lemmings sell as the price gets lower and lower ... can't take the pain or are over leveraged or just buy high and sell low ... or all the above
Was going to ask, if anyone else had checked on RIG contract status report. Not the terrible news some may have expected. The thing we need to understand, regardless of what sector, the mkt is always going to go too far up or down, before logic is re-employed. Deep water drillers have kick me written all over them ... which will provide extraordinary buying ops for people with liquidity to take advantage.
You are on to something, IMO. NE will come through. The need for energy is going to continue to grow. There may be down trends, but in energy you can trust. And NE is one of the better deep water drillers. Watch, when shale growth stumbles because of environmental issues or escalating cost
NE, ESV, RIG, you name em ... down they go again and again. Bottom is here somewhere, sometime
Have gone from 3.74 to 2.54, in the last 90 days. I wonder how accurate these forecasts are going to turn out to be
Tax loss selling always leads to great opportunities for tax loss buying. When ppl dump a stock near the end of the year, they get very emotional and can't wait to take it off their list. Therein lies the greatest of opportunities ... I see NE as fitting perfectly into that scenario. The variable which is also impacting this story is the price of crude ... when does it stabilize and at what price
No it is not too early for tax loss selling. Look, the mkt is up and NE is down and down hard. If you were fearful of NE getting worse and want to take the loss ... you do it sooner vs later.
Unlike Mackey ... how does he still have a job?????
My point about PGN looking better relative to NE was based on this week's observations, not from an absolute standpoint. Bottom line, if you own a driller, you are getting take apart limb by limb. Just a matter of how bad is bad.
Sometime in the next month or two, I expect the offshore drillers will bottom and start moving up with new investor money (after all the weak bag holders dump it) ... this could/should be connected with stabilization in Russia ... and a stable to improving world economy. Until then, it is a slippery slope
Not by much, but it stopped going down, while all the rest of the big offshore continue to hit new lows. A bit more on NE and it will be looking at a multi yr bottom ... one which has been hit several time over the last decade
Might be surprised, but that is the way the idiots who invest and trade work ... buy high/sell low or short low/buy high
Why, because it can't keep going down at the rate it has gone. RSI is at levels where nearly everything changes direction. This is so incredibly hated, there is no room for anything to go right. Yes, and it is conceivable that something will go better than the bleak expectations which are built into the stock price at 6.50