I added to my position today in Halliburton (HAL) at $29.99 per share. I bought Halliburton about 3 months ago at $29.37 and it was slammed today when they announced forecast first-quarter earnings below Wall Street estimates due to decreased drilling and completion activities in Canada and the northern United States.
This seems like a good time to add to positions or start a new position in a company with great long term potential who are making huge buybacks of their stock. Short term bad news can be a great time to buy a stock if nothing long term is affected and you still believe in the companies future. Do you think the demand for oil is still there? Wall street tends to slam a stock really hard on the least bit of bad news and over reacts creating a buying opportunity. We'll see over the long term but I think by the end of the year I'll be happy with my purchase today.
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