I added another percent or two to BAS, because at $2.00 any recovery will yield 1,000% style returns and at this junction a few percent doesn’t greatly affect my risk profile. The over half of my account that’s in cash is going to sit tight until we get more clarity.
The rally in oil last week was great, but I have bad news. This run on oil companies isn’t done yet.
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As an aside, this is interesting
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Energy Transfer and Haliburton are also looking tempting here, but still waiting for the volatility to calm a little before jumping back in.
NICE, Brahhhh!. I followed you into this one and I’m glad I did.
Can we take a second to talk about BAS as a very long term position? What are your thoughts?
Unless crude price rises and stays there I just don’t see how this company can stay afloat more then a year or two