Apache Suddenly Begs the Question, 'How Low Can You Go?'

Apache Corp. (APA) slumped to new lows for the long move down yesterday. (Apache and other independent oil producers are the subject of Jim Cramer's opening story this morning.) We recently looked at the charts and indicators for APA and came away with a bullish story: "Bottom line -- aggressive traders could go long on a close above $50 risking below $46. A quick rally to $56 is possible."

Prices stopped short of $52 and then quickly reversed to break below the flat 50-day moving average line, stopping us out and breaking the June/July lows. Prices have not been this low since early 2016. No doubt I will be getting some nasty anonymous emails this morning. Hey, the stock looked attractive fundamentally and technically, so how could I lose money? Not to be flip or insensitive, but no investment approach is perfect and the mirror side of reward is risk. Consummate investors learn to take small losses and move on....224 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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