Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil and natural gas producer ATP Oil & Gas
So what: ATP's move was an amplified version of the charts for rivals such as McMoran Exploration
Now what: It bears mention that all of these suffering stocks carry four- or five-star ratings in our CAPS system out of five possible, all with approval ratios north of 95%. Unless every oil well runs permanently dry next week, I think we're looking at a whole bunch of prime buying opportunities on these kinds of unmotivated drops. I've never owned an oil stock in my life, but this is starting to feel like a good time to get started.
Interested in more info on the small-cap petroleum stocks we've mentioned? The Fool can help:
- Add ATP Oil & Gas to My Watchlist.
- Add McMoRan Exploration to My Watchlist.
- Add Forest Oil to My Watchlist.
- Add Callon Petroleum to My Watchlist.