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 gas well site servicer Basic Energy Services
So what: Basic Energy Services is not alone in its misery today as peers Newpark Resources
Now what: Before this fall, Basic Energy Services had climbed 21% in the last month alone and nearly 65% in three months, with Newpark and RPC not far behind. Slipping oil prices give nervous or greedy investors a great excuse to take some profits after a run like that, and crude oil prices did decline by 1% today. That's a transient effect, and I wouldn't be surprised to see the climb resume in short order -- with or without support from increasingly expensive oil barrels.
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Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.