Conoco Phillips is rallying with the rest of the oil stocks as crude stopped its crushing slide at least for one day. Is this day for real or is it the dreaded 'dead cat bounce' of a stock in terminal free-fall? Can this up day stop the crash that's been going on in this stock?
If you are long this stock, just hold for now. Watch WTI to see if oil holds the 44-45 level. If it does - COP will be fine.
If oil DOESN'T hold 44/45 - look out below.
If you are long this stock, just hold for now. Watch WTI to see if oil holds the 44-45 level. If it does - COP will be fine.
If oil DOESN'T hold 44/45 - look out below.