Slump in oil price hits WOR, page-93

A couple of weeks back i had my short sell limit set to 5.55. Just b4 mkt open i adjusted down to 5.45 and of course 5.43 was the day's low. But my faith re poor macro remained and today.... before i could once again adjust down i was closed out at 5.45av.

I had 4 bites of this cherry and did good. But it wasn't rocket science. Starting 15 months ago the price of the commodities that WOR focuses 90% of its work on has gone from bad to worse to disastrous. There was no alternative to the SP falling and falling. Many of WOR clients are facing bankruptcy. Plus company is massively over staffed and retrenchments/redundancies are expensive.

The jump in SP in mid November had no fundamental basis and simply provided new opportunities to re-open short positions. The macro hadn't changed and today's 5.6% plunge in SP demonstrates how dire the situation is... and remains. How low can WOR go? A couple of months ago i said '$5 here we come'. '$4 by mid 2016' is my current guesstimate.

Far safer, better, stks elsewhere. WOR is a value trap imo. dyor.