Monday, September 15, 2008

Ray Pulls The Trigger On NOV - National Oil Well Varco

OK, I pulled the trigger on NOV[National Oil Well Varco] today after in dropped 13%. I know common sense says I should have given it another day to see if it tested the 200 day moving average. But at 13+ percentage drop I felt Wall Street would come around fast on NOV. Even before they do the drillers. Remember this isn't just an oil play. It is a Natural Gas play as much as it is an oil play. And I feel nat gas has bottomed for the fall with crude having a little ways to go.

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