RE:Hanging onIt confounds me when the answer is so obvious, why people continue to ride stocks like this down?
From over 1 1/2 years ago and the message and logic are still true to this day.
RE:Unless you think the world is going to end this is a pretty
"Unless you think the world is going to end tomorrow this is a pretty good buy at $5.50?"
That is the extent of your DD? If the world does not end tomorrow then $5.50 is a good price?
My 2 cents. No stock...and I repeat, no stock is a buy and hold when they are bleeding cash with no predictable end in sight. Until then the continued loses will continue to erode the value of the company and therefore the share price.
In my best estimation they need crude @ $55+ for a sustained period before the bleeding will stop. Any idea when you think that will happen? If not then how could you call it a buy and hold? Trade points will always present themselves for the savvy, but that has nothing to do with investors that are looking for value on a medium to long term hold.
Keep a forward eye on crude because that is the 'no secret' secret to when you will once again start making money betting on the oil and services sector.