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.
Unfortunately, today's action looks rather negative: the morning bounce did not attract money and the stock is failing.
This is why I always feel that it is important to check the EV pattern before entering a position.
Pascal
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