While it's obvious nothing will be done until after mid term elections this Fall and new officials are sworn it, it would appear there's hope for appropriations in the drilling and exploration area going to next year. Per GovTrack.us
H.Res. 641: Providing for consideration of the bill (H.R. 4899) to lower gasoline prices for the American family by increasing domestic ...
... onshore and offshore energy exploration and production, to streamline and improve onshore and offshore energy permitting and administration, and for other purposes; providing for consideration of the bill (H.R. 4923) making appropriations for energy and water development and related agencies for the fiscal year ending September 30, 2015, and for other purposes; and for other purposes.
- Introduced:
- Jun 24, 2014
- Status:
- Reported by Committee on Jun 24, 2014
- Prognosis
- 99% chance of being agreed to
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I had previously recommended accumulating RIG near $40 and NE in Chat while it was near it's 200month SMA. That, to me, is good company to have an average price with. This not a recommendation for a quick trade but for a long hold. Throw 'em in a drawer and fuhgettabotit. Risk to your tolerance but I go with 10% on most trades and take partials at major moving average or fibonacci levels. Use alerts - not stops so that market makers don't "see" you. If it loses 10% and breaks that major of a support, you won't be the only one being stopped out. So will major funds. Chart of $NE is shown - click on image to enlarge.
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