Home Forums Members Forum oil/oilstocks Reply To: oil/oilstocks

Neon806Neon806
Participant
Post count: 45

I have been in RIG for yeas as well. I have 646 shares with a break even of $9.75 with a Cost basis of $6,311.07. If my math is correct, if I doubled my cost basis by adding another $6,000 @ $2.77/share that would bring my break even down to $4.38. That would still require a doubling of the current share price but also doubles my risk amount. I have already lost $5,000 on DO when it went under. I don’t think it is work the $ risk at this point for me. I am not willing to risk any more. It will either make it back or it will fail like DO. Also, there may be short term vs long term tax implications by averaging down and then getting out sooner. My 2 cents.