Friday 12/6/2024
My recommendation on PTEN and RIG was just plain wrong. The entire energy service complex was down today, and hard. HAL dropped 4.13% just today.
My sincere aplolgies. PMO has turned down and yes it was toppy. The eventual bottom lies ahead.
Crude oil dropped $1.10 to $67.20. I would not be surprised to see it drop out of the recent trading range this next week.
Patterson fell to $2 at the COVID low, RIG was under a dollar.
I did not have a major position and this is a good lesson for what I believe is a coming bear market. In a bear market all stocks
XES dropped 4.3% which is the overall energy service complex.
DUG is the energy service bear ETF. It loks like it has completed an A B C correction.
Again I apologize for the energy service mistake.
Let's stay with T Bills and bear funds.
Zacls on HAL
Halliburton (HAL) stock fell 1.9% in the latest trading session, underperforming the S&P 500. The company's shares have gained 0.33% over the last month, but are expected to report a 18.6% decline in EPS in its upcoming earnings disclosure. The Zacks Consensus Estimates project full-year earnings of $3 per share and revenue of $22.99 billion, with changes of -4.15% and -0.12% from the preceding year. Halliburton currently has a Zacks Rank of #4 (Sell) and a Forward P/E ratio of 10.21, indicating a discount compared to its industry's average.
Comments