Flipping through the weekly charts, wondering if "the bottom" is in for the Energies, and what do I run across but APC with this obvious Idiot Wave set-up. Looks like it could go below the January lows if the pattern works out the way it should, in Idiot Theory.
(Feb. 9, 2016: Anadarko joins ConocoPhillips, Marathon in cutting payouts ... looked like a "deep value" before they cut the dividend ... learned my lesson well having bought "deep values" AIG, Citigroup, WaMu, and a bunch of regional banks in the summer of 2008 ... once burned, twice shy -- energies debacle avoided.)
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