Tuesday, December 18, 2018 4:12:20 PM
Oil capitulation today?? Oil was down over 7% today. That is the most I have ever seen in one day. The DOW was up 83, but oil ruled the day for my interests.
Again, all 4 oil stocks I follow made new 52-week lows today. Here is the percentage run down:
ESV: -4.31%
DO: -3.94%
NE: -3.27%
RIG: -2.19%
As you can see mine was the worst of the bunch
ESV closed down .17 to $3.77. It went as low as $3.57.
As you may have guessed, since below $4 put me in a decent margin call, falling another 17 cents only made that worse. I am moving another $1,000 in, but that will not cover all of it. That still leaves $550 left to cover. ESV has been falling essentially since November 29th. A bounce is way overdue. The RSI is at 20.76. Well below 30.
Again, all 4 oil stocks I follow made new 52-week lows today. Here is the percentage run down:
ESV: -4.31%
DO: -3.94%
NE: -3.27%
RIG: -2.19%
As you can see mine was the worst of the bunch
ESV closed down .17 to $3.77. It went as low as $3.57.
As you may have guessed, since below $4 put me in a decent margin call, falling another 17 cents only made that worse. I am moving another $1,000 in, but that will not cover all of it. That still leaves $550 left to cover. ESV has been falling essentially since November 29th. A bounce is way overdue. The RSI is at 20.76. Well below 30.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
