I raise the white flag. My losses are too appalling to speak of.
Watching the EURUSD, I just can’t sit idly by.
I let loose the entire SXCP position, for a small gain. It may not make sense to sell a winner while clinging to losers (don’t worry, that part comes next). But it really does if you dig down. SXCP deals in coke for metallurgical operations. It was a good value buy, but following the oil implosion (and all other commodities), I’m getting worried the entire market could tank.
Oil was very important to the US economy. You can only sell BAS for so many days in a row before you need to raise cash from something else. We need oil to stabilize at $80 and the EURUSD to stop falling or you are going to see some very serious fireworks.
In that spirit, I also sold positions down until I got the margin monkey off my back.
I’m 100% long, but if we collapse, I’m not going bankrupt.
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How low can a stock like BAS possibly go before getting some sort of relief bounce? As long as oil stays low, it’s toast?
No position yet, but it sure does look appealing.
My final “averaging down” in BAS would be around 4.50….it would become a full position of mine at that point.
That would be about 15% of the 52 week high of the stock. About where weak competitor KEG seems to have stabilized a bit at.
From your June post Cain:
“I ran some numbers, and from their last report, I’m thinking BAS was probably worth about $8 a share. This massive move higher has been from the company managing to stop the losses they were taking every quarter. However, the next major risk to the shares will be execution; can the company turn a profit?”
Considering its… holy crap, 6.51, is it still valued at 8? If you still think so, ill buy with my IRA and set forget.
I had to sell a few positions I had fallen
in love with and it sucks.I still hold $PGH
and can’t seem to let it go.But then
I picked up $C and that turned out O.K
Since I’m now rambling on it’s time to go
Sorry buddy, got castrated yesterday myself on TSX … energy exposure burned me… oh well, this to shall pass.