This is a link to Continental Resources, an oil company with the largest land position in the North Dakota Bakken area where oil production has been increasing dramatically year after year. I own CLR, and I have been watching it for several years. The stock has gained more than 50% in the past year. You simply have to be patient with the company because the rise is mostly gradual.
I have shown a current Yahoo chart below for six months. Click on the chart to expand it. The MACD momentum is down, but this is probably when you should buy the company on a pullback. Most people are not going to pick the exact bottom or top in a cycle. The price of oil has been going down, too, but it has now turned back up to stand at $97 today. I am happy to own Continental Resources at a time when we have big questions about how much further the general stock market can rise. I believe CLR will outperform the S&P 500 in the coming year just as it has during the past twelve months.
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