Schlumberger cutting jobs in North America

“Slum-ber-jay”, some pronounce it as “Sloom-burger”.

Schlumberger is the world’s leading oil field services company. In mid Oct 2007, SLB stocks were >$110. Today, it went as low as $72.30. A spokesman said on Tuesday that Schlumberger is cutting an unspecified number of North American employees due to slowing demand for oilfield services. Some speculate whether the cuts will affect other employees in the Houston area. How about the others around the world?

Recession in the US is inevitable! (Some Economist do not believe so though) What will happen when America’s demand for oil goes down?

Lets try speculating here. Oil prices will go down (temporary), SLB stocks will go down (temporary). Unless some technology replaces Oil (very unlikely), demand for oil in the world is unlikely to drop significantly and the drop in price is only temporary.

SLB stocks at $78, to me is a real bargain. Looking at its operations in Russia & the rest of the world as mentioned in The Stealth Oil Giant, Schlumberger is certainly set to continue to be a major force in the Oil Industry.  And in 5-6 years time when the US economy pick up from the recession, the $78 stock today is most likely gonna be worth significantly more than that.

What am I trying to say? Invest in SLB Stocks with a 5-6 year time horizon!

Why am I talking about it and doing nothing? Haha… it costs about US$78000 to own a lot of SLB stock. Does anyone know whether we could buy 0.1 or 0.05 lot instead?

From the above, you will find out that I am a rookie in trading stocks. Please do not trade stocks based on this post. I will not be responsibly for any gain/loses made. 😉

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4 Responses

  1. thanku

  2. plese give me a one opertunity

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