Hi Alton, re COP and others
Big guys like XOM, CVX and COP are still making new lows ...
It is interesting that at 60$/share, COP is where it was 10 years ago. But what worries me is that, in-spite of the recent drop, the 20-yr return is still at 11.52%. With a drop of this magnitude in the sector, I would have expected that the 20-yr return would've normalized to 8-9% or even less. Perhaps we should expect lower prices ... I am keeping lots of powder dry and not executing immediately.
And ya, I am being very patient with EGY but at some point, I may decide to tak the loss and replace it with a winner in the same sector. PDCE is well hedged and looks like a great stock to AIM.
