Anyone taking something off the table?I was down three hundred thousand at one point but now am up $370000. I owe $140000 to my Father but haven't paid him back yet, so I am up over $200000. I am still unhappy because I lost $175000 gambling and on reckless pursuits beyond this. So I could have been up $400000. Am I nuts for staying in and watching what happens? Am I too focused on the money and on what the stock used to trade at? Is it greedy waiting for $6 or foolish to wait for $7? My plan is to wait until the summer and square up with my Father ant hopefully $6 plus, the greed in me will wait until $7. But that strategy is risky and I could sell half my lot now and square up with my Dad. I also owe $100000 to credit cards so by paying up my debts I will shuttle down my shares substantially.
After all these years of turmoil and anxiety about being down so much on this stock I am
not as excited as I should be because I know this could all disappear and crash. 50 cent swings are common place and it's nice to finally be in the right side of a trade. I made many mistakes investing and have righted the ship. If I sell now or anyone for that matter will you be massively disappointed if the stock goes to $7 or $9? Is this an investment at this point, I think it is but if it seems too good to be true it probably is. If oil drops here to $60 it would be extremely frustrating. What would you do?
Upon reflection I think I want out at $6.36. Hopefully by June and then I can let the rest ride. $3.30 is my break even now but that also means zero in my bank account because I bet the farm.
Should I cycle out of this sector into marijuana or wait until oil goes above $100 a barrel? I hope this lasts but it almost never does with cyclical plays like this.
At a $6.36 exit price I can pay my Father back and keep 50000 shares and just let it ride and if the company went bankrupt I would walk away with nothing but not loss anything.
I also will have tax implications, I kind of guessed my average cost but at least half is in a tax free.