Tuesday, March 20, 2007

Haliburton Lowers 1st Quarter Estimates


Today I was long a few oil stocks and doing very well until HAL decided to announce at 12:30 that they expect first-quarter earnings to be below Wall Street estimates. I wasn't long HAL, but HAL dropping 3 dollars caused the rest of the oil stocks to sell off as well. I watched my profitable longs turn against me in seconds. I exited quickly but the damage was already done. Trading doesn't get anymore frustrating than this folks.

4 comments:

cheesefries said...

Hey Kevin,
Any thoughts on the Q's today?
Tommarow will be day 5 since the last dip, do you still anticipate further selling?

Kevin said...

I'm still short...Anything can happen tomorrow with the Fed meeting so we'll just have to see what happens.

Tyro said...

10% in 10 minutes, that's insane. What a market.

Kevin said...

Tell me about it...I couldn't believe what I was seeing...

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