Time to Pull the Trigger on Four Oil Service Stocks [View article]
Camden, thanks for the correction, I indeed did mean to write 'directly correlated', sometimes my words are inversely correlated to my thoughts! I will, however, correct you: the author did refer to a recent SA article on oil going to $30-$50 range (see second to last P and author comment).
Time to Pull the Trigger on Four Oil Service Stocks [View article]
Like your stock picks, but time now to pull the trigger? Hmmm, maybe in coming weeks.... I'm not sure I agree that oil will go to $30-$50 (as in said article above). But, I do respect Jim Kingsdale's opinion on energy/oil, he sees oil hitting $85 or lower, then settling ???. Thus, RIG has been in a downward trend inversely correlated with the price of oil since July 1. As oil descends to and past $100, RIGs price will also descend.
Time to Pull the Trigger on Four Oil Service Stocks [View article]
Time to Pull the Trigger on Four Oil Service Stocks [View article]
I'm not sure I agree that oil will go to $30-$50 (as in said article above). But, I do respect Jim Kingsdale's opinion on energy/oil, he sees oil hitting $85 or lower, then settling ???. Thus, RIG has been in a downward trend inversely correlated with the price of oil since July 1. As oil descends to and past $100, RIGs price will also descend.