RE: Hmm, we argued all weekend over CBS and TTQ" Well I dumped both this morning and it looks like the right decision, there are bigger things at hand in the world markets and buying may dry up for a while, I expect further hits to world markets this week, you cant come off these highs so fast without effecting some major international positions, and interest rates hiked up in Japan, not a good sign since Japan was bank rolling most of the liquidity out there, it is definitely a macroeconomic situation and we have turned a corner here, that is the effect of Globalization that does not make sound markets "
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quite possibly true. Certainly the weakness in the these plays has nothing to do with the properties or the drill holes or the plays themselves; rather, it is a function of the panic in the major markets (which of course has direct impact on the specs).
nevertheless, I'm going to ride it out and just patiently wait. As opportunities present themselves, I may sell some other positions to add more CBS or TTQ on further weakness.
Of course, it would be preferable that that won't be necessary, and the markets rebound, but I can see there is a fair bit of worry and fear pervading the markets.