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MMR - Another dog for my watchlist kennel
I'm already short PXP, but look at this one. I think I need to short it too. I was actually going to today, but didn't want to short it at the bottom of a >5% intra day drop. I put it a limit order to short it on a little bounce, but that didn't happen.
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"McMoRan Exploration Co., through its subsidiary, McMoRan Oil & Gas LLC, engages in the exploration, development, and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area of the United States. "
Do we really need to know any more?
That chart is fugly too. Should be an easy short down to 5-something. I might put in a limit order to short this tomorrow but I don't know if it'll get filled.
Shit, down another >8% already today.
Shorted this today at $10.63.
Stopped out of this today at $10.59. I used a 9% trailing stop here, but I should have increased that after yesterday's drop, considering how volatile this stock has been. I will keep an eye on this and may short it again.