Schlumberger stock may actually sell off on good news – profits will soar on new exploration but traders are waiting to sell
Paula Zubeda
Oct. 20, 2006

The oil and gas exploration in the last few years have exploded. Schlumberger is expected to announce record profit on a record revenue.

The market expects the third-quarter profit to rise 76 cents a share from 45 cents a year earlier. That is a fabulous result. But the problem is that accumulation distribution models are showing the stock is ready to be distributed.

The falling oil and gas prices make it more probable that oil and gas exploration will be hit with moderation in coming months. That is prompting traders to sell the stock on good news.

Schlumberger stock may actually sell off on good news – profits will soar on new exploration but traders are waiting to sell
Paula Zubeda
The falling oil and gas prices make it more probable that oil and gas exploration will be hit with moderation in coming months. That is prompting traders to sell the stock on good news.
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