cleverox: oil services stocks like ALY depend more on gas drilling than on oil drilling. According to the Baker Hughes drill count, 82% of rigs in North America are drilling for natural gas .... only 18% are drilling for oil.
Hence the problem ..... oil at $61 is still highly profitable for drillers .... but natural gas at $4.30, a 4-year low, is going to discourage more drilling if the price continues to stay down.
I'm still holding 35% of my ALY position, but am increasingly concerned about the crash in nat gas prices ....
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