XEC

This morning, I was planing to buy a LONG XEC position.
I am aware of the negative press about the oil shale issues, but I like negative press, because they usually offer good buying opportunities.

We can see below that XEC has been under accumulation, and is at a low supply level (lower than 10%).
This means that this is (was) a good buy. I in fact cropped these three figures before market opens this morning.

[ATTACH=CONFIG]25496[/ATTACH]

[ATTACH=CONFIG]25497[/ATTACH]

[ATTACH=CONFIG]25498[/ATTACH]

Unfortunately, today's action looks rather negative: the morning bounce did not attract money and the stock is failing.

[ATTACH=CONFIG]25499[/ATTACH]

This is why I always feel that it is important to check the EV pattern before entering a position.


Pascal