Bad move. After this Haliburton tanked worse than Conoco.
Depends upon how many months is “months”. On the way up, I thot COP was getting pricey at 74, 78, 82, & 87. Well, I was wrong three times and right once. COP I consider to be one of the finest stocks out there, very skilled operators. One of my “5 best stocks”, no question. Of course they cannot change, by themselves, market-wide revulsion over oil prices.
I happen never to have been a big fan of HAL, but that’s just a matter of taste buds. It tends to be a very slow mover, for my purposes.
The truth is that oil has been such a wonderful place to invest in, really, since the market lows of ‘09. It’s been a crappy place for about 4 months. In some ways I wonder how far the market in general will go if the whole energy sector deflates. But oil getting cheaper is very bullish for consumer spending and the dollar. So one sector’s pain is another one’s party. And no way, no how, can you decide to be bearish this time of year. It is phenomenally bullish between T-giving & Xmas. Of course, now we get into the possibility of oil being chucked out all the way to the end of year as in “discard losers”. Fortunately, that pain only has a month to run, but it could get ugly.
These things have a way of going farther, often a lot farther than one might project.