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Potential trade

Posted on 8/2/11 at 5:02 pm
Posted by beachdude
FL
Member since Nov 2008
5642 posts
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 by FunkyTiger
New Orleans
Member since Nov 2009
1207 posts
Posted on 8/2/11 at 5:12 pm to
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 by C
Houston
Member since Dec 2007
27824 posts
Posted on 8/2/11 at 6:28 pm to
Magellan?
Posted by FunkyTiger
New Orleans
Member since Nov 2009
1207 posts
Posted on 8/2/11 at 6:32 pm to
I was thinking that company myself C.
Posted by Quidam65
Q Continuum
Member since Jun 2010
19309 posts
Posted on 8/2/11 at 6:43 pm to
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 by FunkyTiger
New Orleans
Member since Nov 2009
1207 posts
Posted on 8/2/11 at 6:48 pm to
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.
Posted by beachdude
FL
Member since Nov 2008
5642 posts
Posted on 8/2/11 at 7:13 pm to
Thanks. It is EQT.
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