Nice reversalI usually focus on fundamentals. SGY is a terrific company with one of the best management teams in the business.
This summer, the stock got punished massively as if it were still highly in debt...and with the CFO stepping down suddenly, a lot could have been feared.
The firm came out swinging end of August, with new well results, a new CFO, and a share buyback program. Six weeks later, the stock is 50% off its lows and has built a solid base for a continued rebound.
Obviously, the Saudis can always come out and c#ap all over this party. But I have been buying every week (including today) as I just see continued value in this company. My plan is to not sell anything for the next five years. I believe I will be much richer in the process. My redemption for all the investments in the oil business I made last summer...the road to climb is long, but I have time on my side. GLTA!