I bought 700 shares of an oil co. stock and have lost $13,000 in a month. Should I sell to stop the bleeding or wait it out for higher gas prices and an upswing with the stock. I am thinking if I sell now maybe I can rebuy later if it continues to plummet. I have confidence in this company's stock but I'm losing money fast.
2006-09-25 15:13:55 · 4 answers · asked by sgersch26 1 in Business & Finance ➔ Investing
Some of the energy stocks just found a little support, but ya, energy broke their trend a while back.
Meanwhile, retail, technology, brokers/dealer, and healthcare are leading the charge.
I can't give you investment advice, but I'd divest of some of that and diversify into a couple of these other sectors, especially since they're moving up.
Oh, and oil breaks $60 to the downside, lookout below!
2006-09-26 18:37:10 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
You didn't list who you bought, so it's hard to tell - BTW, higher gas prices doesn't mean your stock is worth more. If you're that shaky in the market, you really shouldn't be there.
Figure out what is the maximum you can afford to lose, and put a stop loss sell out there with no cancellation date.
Just know that if you sell, you guarantee your loss, but if you don't know when to sell, your stock can continue to be buffetted. Analyze the numbers on your stock, ROA, inventory levels, and see if they're the best of the best - if so, they'll rise in this market.
Next time, try buying over time so level out the prices you paid. Make sure you don't sell right before you go ex-dividend.
2006-09-25 22:17:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Never hold a bad stock - remember - every 100% loss starts as a 10% loss. Get out while you can and put what' sleft of your money into real estate or something else stable. There is always something going up, but if you are interested in staying in the energy sector, look to solar energy film. It's the newest thing and it is going to hit like a storm! Good luck - email me anytime!
2006-09-25 22:18:06 · answer #3 · answered by wonderingunhappily 1 · 0⤊ 0⤋
no usually i stick to my role of being a raping moron that everybody hates but this captured my interest no I'm not eminem or anything but i did work for an energy company in 05 and i made 140 000 a year the stocks were good for the first while then they declined in February and rose in April substantially
2006-09-25 22:18:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋