GREY:LSTMF - Post by User
Comment by
blade86caon Apr 18, 2016 3:03pm
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Post# 24780341
RE:RE:RE:RE:RE:RE:RE:Kuwait Crude Output Drops 60% as Oil Workers Strike
RE:RE:RE:RE:RE:RE:RE:Kuwait Crude Output Drops 60% as Oil Workers StrikePROtrading..... I had a much larger position years ago but cut that position substantially for a loss near end of 2014 sometime when oil prices were breaking down ( I kept some shares thinking maybe I was wrong regarding oil prices at the time and that it was only a temporary blip just like 2008, we all know how that turned out now ). I do some trading but only in my TFSA and I do not trade companies , only leveraged ETFs.
If i was bullish on this company I would never have cut my postion. I only average down in companies that have a good clear plan for future and how they intend to turn around and fix any issues that occured internally.
When I look back now I am thankful and glad I never got an email response back from management as that was probably one of reason why I never once averaged down all the way from 11$ and decided to save my $ just let those shares ride it out. There is no point in me selling at these low levels and will just use the loss from this to offset gains I have made and will be making.
I averaged down into other companies like VET, WCP etc and even aggressively bought in Dec and in Jan when oil went under $ 30 for short period of time.