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Message
Did I wait to long on the xom stock to drop?
Posted on 1/13/16 at 12:29 pm
Posted on 1/13/16 at 12:29 pm
The price is trending upwards today. I know this has been discussed before but it's hard for a safe investor like myself to make the call. I plan to put up a good bit of money in exxon once it bottoms out. I am young so I feel like the gamble is worth the risk, however i still want to capitalize on lowest prices. I can't make a decision.
5
Posted on 1/13/16 at 12:34 pm to iamAG
quote:
I plan to put up a good bit of money in exxon once it bottoms out
Good luck with that.
In all seriousness, there's no way to know. Personally, I doubt we have seen bottom. Your best bet is to dollar cost average.
Posted on 1/13/16 at 12:40 pm to Htown Tiger
Yep, but my problem is I just don't feel comfortable yet. I think it will drop at least a little more. If it doesn't I will be kicking myself if I wait to long, and the stock rebounds, and I think most believe it will. I wish the stock market would put out a post...xom is at the lowest point...invest now. Lol
Posted on 1/13/16 at 12:47 pm to iamAG
If you're going to dabble in the market you would do well to change your train of thought on stuff like that. Assume you aren't going to time it perfectly, and assume that at some point you are going to lose your arse. Go into it with the perspective that you want to hedge against those two as best as you can. Dollar cost average the shite out of it.
Posted on 1/13/16 at 12:48 pm to iamAG
quote:
Yep, but my problem is I just don't feel comfortable yet. I think it will drop at least a little more. If it doesn't I will be kicking myself if I wait to long, and the stock rebounds, and I think most believe it will. I wish the stock market would put out a post...xom is at the lowest point...invest now. Lol
How much more od you think it'll drop..you are worried bc it is up less than a dollar today?
Sounds like you are chasing pennies rather than dollars. If it's a long term trade just put the money in now, regardless of your exact entry point you it's the same thesis (that it's cheap and will rebound).
Or why dont you have drop half in now and wait to see if it pulls back further.
Posted on 1/13/16 at 12:56 pm to iamAG
quote:
I just don't feel comfortable yet. I think it will drop at least a little more.
Then wait longer...
quote:
If it doesn't I will be kicking myself if I wait to long, and the stock rebounds, and I think most believe it will
In all seriousness, as others have said... its a long term investment so you should dollar cost average in. LINK
Basically, buy part of what you want to invest now and buy more later.
quote:
I wish the stock market would put out a post...xom is at the lowest point...invest now. Lol
Best quote I've read on this board in a while.
Posted on 1/13/16 at 1:14 pm to kennypowers816
Thanks for the suggestions. I think Ima pull the trigger this week. It is a very long term investment, so I'll hang in with the peak and valleys
Posted on 1/13/16 at 1:36 pm to iamAG
quote:
The price is trending upwards today. I know this has been discussed before but it's hard for a safe investor like myself to make the call. I plan to put up a good bit of money in exxon once it bottoms out. I am young so I feel like the gamble is worth the risk, however i still want to capitalize on lowest prices. I can't make a decision.
One day does not a trend make. You'll only know that this, or any stock, has bottomed out AFTER it has bottomed out. The only way to get the absolute lowest price on a stock is to be incredibly lucky. That's it! If you are about to put "a good bit of money" into a gamble, then you shouldn't be doing this until you've studied and understand the market and basic investing principles more. Why Exxon? What are your long term goals with this investment? What would prompt you to buy more? What would prompt you to sell?
I don't say this to be offensive, but in all honesty, why not consider mutual funds and/or dollar cost averaging your way into those types of positions before playing with individual stocks?
Posted on 1/13/16 at 1:43 pm to whodatigahbait
If it's a long term trade just put the money in now
Posted on 1/13/16 at 1:52 pm to iamAG
I think you're going to have plenty of opportunities to buy XOM at lower prices.....
Posted on 1/13/16 at 1:57 pm to kennypowers816
quote:
quote:
If it doesn't I will be kicking myself if I wait to long, and the stock rebounds, and I think most believe it will
In all seriousness, as others have said... its a long term investment so you should dollar cost average in. LINK
was really hoping that was a link to the dollar cost averaging pitch in boiler room....
Posted on 1/13/16 at 2:22 pm to iamAG
How are we supposed to know?
Posted on 1/13/16 at 2:30 pm to iamAG
quote:
I am young so I feel like the gamble is worth the risk,
quote:
exxon
Hardly a risk.
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