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  • GREGG DIAMANT
    Participant
    Post 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?
    Thanks,
    Gregg

    Theresa OConnor
    Participant
    Post count: 23

    Hi Gregg,

    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.

    Theresa

    Jeff W
    Participant
    Post count: 230

    here is the chart its page 11 of oil/oil stocks

    Sean Hyman
    Keymaster
    Post 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-40247

    GREGG DIAMANT
    Participant
    Post count: 21

    Thanks Jeff. Appreciate it.

    GREGG DIAMANT
    Participant
    Post count: 21

    Super! Thanks.

    Sean Hyman
    Keymaster
    Post count: 7046

    You’re welcome.

    Scott Pearcy
    Participant
    Post 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 economy

    Sean Hyman
    Keymaster
    Post 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!

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    Taylor Limited
    Participant
    Post count: 27

    I’m still down 42% on RIG. Should I get out as soon as profitable or hang on while?

    Sean Hyman
    Moderator
    Post 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.

    Taylor Limited
    Participant
    Post count: 27

    Thanks.

    Sean Hyman
    Keymaster
    Post count: 7046

    You’re welcome.

    The good news: When oil is trendig higher, it can aid even fundamentally weaker stocks higher.

    sshetty
    Participant
    Post count: 161

    My breakeven price with RIG is @ 7.7 …..I am waiting for it to become profitable

    Sean Hyman
    Keymaster
    Post count: 7046

    Yeah, give it time. It should get there.

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