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 EXCO Resources
So what: Oil dropped dramatically this morning falling to $89.17 early and putting pressure on oil and gas stocks. With EXCO set to release earnings, after-the-bell traders got a little worried that the European fallout could have an effect on future earnings.
Now what: The move today hit many oil and gas explorers, but I would wait until tomorrow to make a decision on whether EXCO is a buy or sell. The earnings report and any guidance from management should have more effect on your decision than a short-term panic in energy markets. Today, sitting on your hands is the right move with this stock.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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