Frustrating DayI have been holding COS long, and was one of those who hoped for a takeover bid. Hmmmmm
Today the light at the end of the tunnel seems a bit darker.
Agree that COS closing on its lows two days in a row is not a positive short term sign. Also concerned the downside is a far greater percentage than most other oil plays. The supply side is not letting up as fast as all of longs would like.
I hope namsoc's estimates are right. Since this stock popped at the beginning of Feb it's been a slow bleed to present levels. I truly thought it would bottom out around 10. Nope.
The big question is to hang in there for another year or cut and run. It would certainly be nice to see some positive news...not so much at the macro level, but some insight at the company level.
Still long...but nervous.
BTW...I don't mind the folks who are making money on the shorts and the puts. We all know the amount we are playing as retail investors has little to do with the swings. Good call on your part. Nice to see someone make money on a day like today.