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re: Oil stocks...are you buying?

Posted on 3/4/16 at 10:43 am to
Posted by SouthOfSouth
Baton Rouge
Member since Jun 2008
43480 posts
Posted on 3/4/16 at 10:43 am to
Up 54% now!!!!


This is crazy.
Posted by LSUneaux
NOLA
Member since Mar 2014
4510 posts
Posted on 3/4/16 at 10:49 am to
COP....this week.... Oh my God.....
Posted by SouthOfSouth
Baton Rouge
Member since Jun 2008
43480 posts
Posted on 3/4/16 at 10:50 am to


I needed that one too.
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3850 posts
Posted on 3/4/16 at 10:53 am to
quote:

COP....this week.... Oh my God.....



I own one share of COP on Robinhood.

I purchased $3,000 of CVX a couple weeks ago.

Some days you're the windshield, some days you're the bug.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80859 posts
Posted on 3/4/16 at 10:57 am to
Anyone know the cause behind this massive oil company rally? Prices are not really up and I haven't heard of any production cuts announced.
Posted by tes fou
Member since Feb 2014
839 posts
Posted on 3/4/16 at 11:06 am to
Hornbeck is on a heater too, as well as Tidewater, although I think their cash situation raises risk a bit more than Hornbeck's.

I really blew it not wanting to trade during mardi gras. I had about 20 bucks sitting in Robinhood so I threw it on Hornbeck near the bottom but didn't want to pay close attention so I didn't deposit cash to really invest.

Those couple of shares up 55% right now.
Posted by Brettesaurus Rex
Baton Rouge
Member since Dec 2009
38259 posts
Posted on 3/4/16 at 11:07 am to
Absolutely no idea. I haven't seen much of anything in the news at all. I've noticed gas prices creeped up a tiny bit, but nothing I'd imagine to be causing this.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
73835 posts
Posted on 3/4/16 at 11:25 am to
quote:

COP....this week.... Oh my God.....


up 6.54% so far today. basically went from 32 a share to 41 in no time

Posted by LSUneaux
NOLA
Member since Mar 2014
4510 posts
Posted on 3/4/16 at 11:29 am to
I accidentally down voted you. Lol. But to COP... I will be selling today. No way this goes up Monday.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
73835 posts
Posted on 3/4/16 at 11:38 am to
i'll be holding until I HIT my price point and/or get stopped out. might be a long time. maybe not. we shall see!
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 3/4/16 at 11:55 am to
I'm not real interested in selling at this point. I bought 100 shares at 32.46 2 weeks ago. I bought as a hold.
Posted by LSUneaux
NOLA
Member since Mar 2014
4510 posts
Posted on 3/4/16 at 2:21 pm to
Bought 808 shares at $36.70. Sold at $41.24.
This post was edited on 3/4/16 at 2:22 pm
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
73835 posts
Posted on 3/5/16 at 11:13 pm to
Posted by Brettesaurus Rex
Baton Rouge
Member since Dec 2009
38259 posts
Posted on 3/6/16 at 1:44 pm to
Im prepping for a reckoning tomorrow. I don't see how the upward trend can continue without any kind of real positive news out there.
Posted by Bayou Tiger
Member since Nov 2003
3660 posts
Posted on 3/6/16 at 3:35 pm to
I don't know what to expect Monday, but I have resigned myself to the fact that I don't know what is going to happen any day.

Whenever I take on a new position in oil and gas, I set up a couple of limit orders. The first sells the stock if it goes up more than 20% or so. The other limit order buys more if it goes down a certain amount. Example Anadarko sold Friday after crossing the 20% mark, helped by lowering my basis when it moved notably lower than my initial purchase price.

These are strange times for oil and gas stocks. Normally I am a buy and hold investor, but the volatility is crazy lately. This trading strategy has worked really well, and I plan to do continue until the long-term view of oil improves.
Posted by TJG210
New Orleans
Member since Aug 2006
28406 posts
Posted on 3/7/16 at 8:48 am to
Sgy up 31% today....fml for not buying more when it was $1.50.
Posted by Brettesaurus Rex
Baton Rouge
Member since Dec 2009
38259 posts
Posted on 3/7/16 at 8:53 am to
quote:

Sgy up 31% today....fml for not buying more when it was $1.50.

I loaded up at 1.55 and got my average down to 2.00 buy in
Posted by LSUneaux
NOLA
Member since Mar 2014
4510 posts
Posted on 3/7/16 at 9:49 am to
Me too. COP was fun last week so I sold on Friday because I thought surely Monday would be red. Up another 3% today.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
73835 posts
Posted on 3/7/16 at 10:17 am to
quote:

Up another 3% today.



Posted by danomarcus
Austin
Member since Mar 2016
3 posts
Posted on 3/7/16 at 1:52 pm to
I'd be careful if I were ya'll. What this looks like is a short squeeze of massive proportions. The last time we saw a short-covering rally near this magnitude it didn't end well.
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