LEG is way way way oversold !
As usual the market forces have precipitated a massive over reaction in selling. Just ask yourselves this question:
What price will oil return to on a more stable average long term basis?
Then ask yourself what the fair base share price will be for LEG to build on and move up based on LEG's excellent resources and income stream already well established.
This is a no brainer people. The short term depressed oil price will NOT last! Oil is NOT going to 40, 50 or 60 as some have mentioned out of fear. The fact is there is a good reason why oil prices have sustained prices bewteen $80 and $100 over the last 4 years.,,, simply put, the world needs oil! The global population/economies are always growing and expanding. The metrics for oil and gas CONSUMPTION in transportation, petro-chemicals, agriculture, heating and cooling etc etc will ALWAYS be trending higher over time.
To quote Shakespeare,
"There is a tide in the affairs of men.
Which, taken at the flood, leads on to fortune;
Omitted, all the voyage of their life
Is bound in shallows and in miseries.
On such a full sea are we now afloat,
And we must take the current when it serves,
Or lose our ventures.
Now is exactly the time to buy - NOT sell! Shorters beware! These opportunities only happen very rarely and the OPEC decision is a blessing for those who can see the opportunity here. For those investors already in LEG at higher levels you will have to wait till share prices regain their value as oil price returns to the $80 to $100 range - which if history, logic and common sense is to be our guide, it surely will.
BTR