Just some quick T/A on ESV Spino1i:
Firts of all...any reason why you would put your WHOLE portfolio at risk in ONE stock?
From a T/A perspective.....I just took a quick look at some charts I am able to post...as MY trading software doesnt allow me to copy and paste links.I already knew it was in the oil drilling biz,but I am not up to date on its current fundamentals.it looks like its trying to TEST holding its recent lows.....but unless it HOLDS this recent test in the $52+ area....it looks like the next stop might/will be the $45 dollar range [img]/images/graemlins/frown.gif[/img]
http://finance.yahoo.com/charts#chart2:s...ource=undefined
However ...the 2 T/A positives ...are that "hanging man" candlestick LOW it made on August 16th that I treat as one of the more reliable candlestick patterns,and it is also currently EXTREMELY oversold on a S/T basis
Also from a PURE contrarian POV..it is also due for some sort of decent bounce...again S/T
http://www.traderslog.com/Hammer.htm
If it holds that LOW...you should be OK at least short term,but I would keep a TIGHT leash on this IMO
The market from the long side ....SUCKS right now.
I hope you havnt been caught in the ole' averaging DOWN mentality....or PLEASE explain your thought process here and maybe I can help you out?
GL,
Stephen [img]/images/graemlins/cool.gif[/img]
Disclaimer: I have currently been short MANY equities...LONG bonds....and also holding a large percentage of CASH on the sidelines at this time.I "think/hope" we are near at least a S/T bottom,and would like to see some sort of capitulation type sell-off before going LONG....as currently EVERY decent rally is being sold into,as we are CONSTANTLY making lower lows each day.
With market sentiment/bearishness at bigtime LOWS,as well as extreme PUT buying/short postions still being opened NOW..... a violent parabolic Santa Clause year end rally would not surprise me one bit either....esp for the various/obviously standard market manager related issues