My target entry price for EOG Resources (EOG) came in so I took the opportunity to purchase some shares around $100. Looking at the daily chart it's nearing its 200 moving average of $98 and if it drops below I'll pick up some more. Considering I am a little heavy on the energy sector in my portfolio it would have to be at a good discount.
It's a love hate feeling that oil is around $92 bucks a barrel. The money I'm saving in filling up my car I'm losing in holding capital intensive sea drillers like Ensco, but now is a great opportunity to load up on oil stocks while they are cheap and I'm looking at a price point in the low $40s before adding more ESV.
