technical analysis help please, page-6

I have been surprised with the size if the sell off today and yesterday, because the overall market is only marginally down. My theory is that the price was driven up by investors trying to make a profit out of all the Gorgon hype and now that there is all this talk about an imninent market correction, those investors are taking their profits. I think the same thing is happening with Mermaid Marine.

The big dilemma is that fundamentally, NMS is still cheap (trading on a forward p/e multiple of around 10x) , but when the market correction happens, panicked selling will cause everything to fall.

Its really hard to take a long term, buy and hold strategy with any stocks right now, no matter how great they are, when there is a potentially big market correction looming over the horizon. Hard to know what to do, particularly with a stock like NMS which has all the ingredients to be HUGE one day.