The sell down makes sense to be fair and I wouldn’t take it a bad sign. Oil and gas has a general rule of thumb when dealing with professional money - the trade opportunity is on the speculation leading up to the drill news, always selling out before results hit the market. Reason for this is because oil and gas drills are binary outcome propositions and they can’t take those risks with clients money. Very hard to find discovery but its make or break on the outcome. Thats great for retail traders who are happy to take the chance but most large pools of funds are unable to hang around til the end.
NHE Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
