GREGG DIAMANTParticipantJanuary 9, 2021 at 9:19 PMPost count: 21
Hey Sean, Happy New Year.
I have a large amount of RIG left over from the old portfolio. RIG & OVV are my main negatives (about -12.5k), but even with that I am definitely up overall. The last time I checked in, you said to hold until it was no longer a loss. I am doing that and just wanted to check back in to see if there is any update to that counsel since that was a while back. Actually, much of my daily gain is now attributed to RIG. When I bought it, it was back in the days when I was second guessing your strategy and buying much more of one stock than another. I have now learned to be a good boy and stick to the plan and allocate equally–ha. RIG will have to come back to $17+ to break even. Is that realistic, or should I shoot for a lower number?
GreggTheresa OConnorParticipantJanuary 9, 2021 at 9:58 PMPost count: 23
Sean just addressed this yesterday or the day before. It’s on pages 10 and 11 of the Oil/Oil Stocks thread. If I were more savvy, I’d give you a direct link, but couldn’t figure it out. FYI..my break even is just a little higher than yours.
TheresaJeff WParticipantJanuary 10, 2021 at 12:28 AMPost count: 230Sean HymanKeymasterJanuary 10, 2021 at 8:12 AMPost count: 7046
Gregg, that’s correct. You’d still hold until profitable. As oil climbs to $60-$70 per barrel, etc., it does stand a chance of getting there or at least recouping a lot of losses.
Using the search box on the site, here are some of our recent conversations on the forum about RIG: https://logicalinvestor.net/forums/topic/oil-oilstocks/page/12/#post-40413
And here’s our recent conversations on the forum about OVV. Hope that helps. https://logicalinvestor.net/forums/topic/ovv-formerly-ecana/#post-40247GREGG DIAMANTParticipantJanuary 11, 2021 at 10:46 AMPost count: 21
Thanks Jeff. Appreciate it.Scott PearcyParticipantJanuary 12, 2021 at 10:41 AMPost count: 496
RIG is up 15% so far…..glad to see oil prices rising although it will cost more at the pump…..our strategic positions in the LI portfolio will protect our investments and it will allow drillers to begin their recovery in the world economySean HymanKeymasterJanuary 12, 2021 at 10:50 AMPost count: 7046
Yeah, intraday, RIG is up almost 16%. It’s another reason why I say that when people say “it will take forever to get back to X price”, that’s not always true…especially with value positions.
Yes, RIG looks like its in a major wave 1. Within that wave 1, it looks like its in wave 3…one of the strongest parts of the up-move within that wave. Love it!
Attachments:You must be logged in to view attached files.Taylor LimitedParticipantJanuary 12, 2021 at 8:15 PMPost count: 27
I’m still down 42% on RIG. Should I get out as soon as profitable or hang on while?Sean HymanModeratorJanuary 12, 2021 at 10:05 PMPost count: 3386
You’d want to consider exiting when profitable because it’s hot as strong fundamentally as it should be. Yet, the oil uptrend could help it get back profitable for you.Sean HymanKeymasterJanuary 13, 2021 at 7:09 AMPost count: 7046
The good news: When oil is trendig higher, it can aid even fundamentally weaker stocks higher.sshettyParticipantJanuary 13, 2021 at 1:30 PMPost count: 161
My breakeven price with RIG is @ 7.7 …..I am waiting for it to become profitable
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