A little over a month ago small cap oil like SSN, LEI, ROYL, BDCO, went up on a crazy rally. A few weeks ago, I entered both SSN and LEI on "a dip" at around 2.60, thinking that they will break 3.00 again. Since then, they have dropped to 1.97 and 1.82.
Is this a good buying opportunity now, especially since it seems like the stocks were oversold. I am wary since I thought the 3.00 drop to around 2.60 was a good buying opportunity before it plummeted more.
What do people think about small cap oil in general? I had also figured that the Iran oil sanctions and crisis will help keep domestic oil stocks up.