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NW Iowa | I dont like it. I owned a company RIG, as in TransOcean. Yes, the other culprit in the gulf. I watched it freefall from 2010 high of $94.88 down to the high $60's. Called my broker for advice; he said that their fundamentals were great but they were experiencing a 'perception issue'. I went against his advice and sold; now the stock is at $42, well below March 2009 price (which I look at as a bottom). Look at BP's 2010 high, $60+ and is now trading below $30 and below its March 2009 low in the mid-$30's. Both companies have good underlying fundamentals but IMHO, perception will continue to drive both stock south until that oil stops leaking. FWIW, I like stocks today that pay a dividend and seem fairly stable in this unstable environment. Take a look at PLD and VZ, both trading low recently relative to past perforamance...both big companes that pay dividends. Not promoting, just suggesting. | |
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BP stock
