I've been keeping a close eye on oil as well. $55 bucks a barrel is definitely mind boggling. When and where will it bottom out? Over the past 5 months I've watched this play out... It's literally half the price it was a barrel.
Almost every company with there hands in oil have seen steep declines. There are of course the big oil companies, chevron, Exxon... And many of these companies have their hands in natural gas which hasn't and won't see such a hit since winter is here. There are also many smaller companies SWN(Southwestern), NBR(Nabors)... they're all trading at or around their 52 week lows or making new lows everyday. Does the price hit $40 a barrel?! Regardless i think adding down here is probably a good decision... I think This will eventually rebound, I think it's inevitable. Another way to approach this is buying the sector tickers like, XLE... Which is also trading close to it's lows. I haven't pulled the trigger on any of these yet but I've been watching closely. I'm highly considering SWN as an individual buy and XLE for the sector buy. SWN has a heavy presence in the Marcellus Shale region and they continue to purchase properties. They recently bought a large portion of Chesapeake properties in the area for a billion dollar deal. I forget the exact amount. So they're diversified in that aspect. XLE you can't really go wrong in my opinion, you get a little bit of everything.
Although I do own an odd ball energy stock, AMEN.
