Buying SLB
SLB
(Schlumberger Ltd.) is "the world's leading provider of technology for reservoir
characterization, drilling, production, and processing to the oil and
gas industry. Working in more than 85 countries and employing
approximately 100,000 people who represent over 140 nationalities,
Schlumberger supplies the industry's most comprehensive range of
products and services, from exploration through production and
integrated pore-to-pipeline solutions for hydrocarbon recovery that
optimize reservoir performance."
More interesting to us is its chart:
The green lines, obviously, are up trends. The red connect points of resistance.
The blue is an up trend that stretches back 30 years, beyond the scope of this chart. The purple is a 50-year up trend.
Markets overall, and so too oil-related stocks, are due for a bounce lasting days or perhaps weeks. Who knows? This may even prove to be "the" bottom, but we doubt it.
SLB pays a $0.50 quarterly dividend. At least for now. We'll leave fundamental analysis to those who care for it.
We're buying SLB at the open tomorrow, and bidding for another position at $32.
For those more conservative, look to bid just above $30 (blue up trend) or in the low-$20's should it get there (just above purple up trend).
For the time being, we're just looking for a short-term bounce play on any long position.
This has been the worst December for stocks since 1931, including the worst Christmas Eve on record. Or if you've been positioned as we have, it's probably been the best by far.
Either way, here's wishing you and yours a very Merry Christmas!
More interesting to us is its chart:
The green lines, obviously, are up trends. The red connect points of resistance.
The blue is an up trend that stretches back 30 years, beyond the scope of this chart. The purple is a 50-year up trend.
Markets overall, and so too oil-related stocks, are due for a bounce lasting days or perhaps weeks. Who knows? This may even prove to be "the" bottom, but we doubt it.
SLB pays a $0.50 quarterly dividend. At least for now. We'll leave fundamental analysis to those who care for it.
We're buying SLB at the open tomorrow, and bidding for another position at $32.
For those more conservative, look to bid just above $30 (blue up trend) or in the low-$20's should it get there (just above purple up trend).
For the time being, we're just looking for a short-term bounce play on any long position.
This has been the worst December for stocks since 1931, including the worst Christmas Eve on record. Or if you've been positioned as we have, it's probably been the best by far.
Either way, here's wishing you and yours a very Merry Christmas!
posted by C. Guinness @ 4:05 PM
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