RE:Other oil stocks in sector well up...Easy:
-Abysmal Q4 results with a 75% divident cut (keep in mind they realized a price of $81 per barrel and the results were still terrible)
-The current spike from 6 to 11 was driven largely by take-over speculation that has not materialized, and partly from over inflated operating cost cuts
This still may close green today. BUT, IMO oil is going to go down over the next while, and COS is going along with it. Which is why I am holding a good amount of put options at $10.
Ubervak wrote:
Thinking we will see a green day here, IMO day traders and early profit taking, though you'd think yesterday would have flushed out the weak hands. Bit perplexed why this is down today since it should be following the price of oil. Any thoughts? - Uber