This is the chart of a stock that I used to own, Goodrich Petroleum (ticker – GDP). Alas, as I am wont to do, I sold the damn thing too early.

However, the chart is a fascinating example of the “irrational exuberance” currently dominating the oil market. In fact, I’m truly surprised that Wikipedia doesn’t use this chart as a pictorial example of a parabola because I haven’t seen a better, real-life example.

Today’s candlestick also has the makings of a pretty heroic reversal.

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