GREY:LSTMF - Post by User
Post by
highrider1on Jan 12, 2015 10:43am
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Post# 23309118
BOTTOM FOR OIL NOT HERE YET
BOTTOM FOR OIL NOT HERE YET As most realized oil has not found a bottom yet. Another new multi - year low once again. It has been said many times on the bullboard that a schrewd investor will wait until a bottom is formed before jumping in even if you have to pay a little more for the stock. At least you will be buying on an uptrend and not trying to catch a falling knife and losing more and more money week after week.
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Having said that I think that picking up a few shares of the better oil companies could end up being a smart move but only a few shares as ( like most realize ) no-one knows where the bottom will be.
LTS is once again down way more than the rest right now. There is obviously a reason for this so I wouldn't be buying this one yet.
With T.D.'s downgrade to the .70's cent range for LTS and Moodys downgrade ( giving all the reasons for their downgrade ) then the intelligent ones are waiting and only the outright " gamblers ( not investors ) have been buying and thus losing their shirts.
It has been mentioned many times here that there is no rush to buy ... and there isn't. This oil problem is not going to cure itself overnight.
A wise investor will wait and see how LTS's next few quarterly financials show how she is really making out before jumping in.
NYMEX Crude Oil (Near Future) As of 12 Jan 2015 at 10:27 AM EST.
Quote Details
| Open | 48.19 |
| Prev. Close | 48.36 |
| Volume | 153.7K |
| Avg. Volume | 296.3K |
| Day High | 48.19 |
| Day Low | 46.11 |
| 52 Week High | 20 Jun 2014 107.73 |
| 52 Week Low | 12 Jan 2015 46.11 |