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Potential trade
Posted on 8/2/11 at 5:02 pm
Posted on 8/2/11 at 5:02 pm
I have 1000 shares of a natural gas production/distribution company. My basis on the stock is about $28/share, acquired 12/08. It has steadily increased in value and is currently trading at about $60/share. There were dramatic increases at the end of July from $55/share to almost $67/share, but (of course) it has dropped precipitously in the last week. If it were your stock, you could use some cash, but are not cash poor, would you sell some of it, half of it, all of it or sit given the current climate.
Posted on 8/2/11 at 5:12 pm to beachdude
You have already given us the price and amount of shares. If you give the company name, or symbol, you could help us better decide.
Posted on 8/2/11 at 6:32 pm to C
I was thinking that company myself C.
Posted on 8/2/11 at 6:43 pm to beachdude
I would sell half which would recoup your original investment (cash wise) and then some. You're then playing with house money (so to speak) so you can ride things out.
Posted on 8/2/11 at 6:48 pm to Quidam65
quote:
I would sell half which would recoup your original investment (cash wise) and then some. You're then playing with house money (so to speak) so you can ride things out.
I would probably suggest the same approach, except I do not know which company you are talking about. Maybe using a little TA I could determine if it would be wise to perhaps stay in a little longer.
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