Coming to TermsI did not sell a single share today.
Each of our rationalizations for keeping, or selling, this stock is our own unique play. Each of us came into this stock at various price points.
I came into this mess around the $15. I suspect most of your are higher.
From my perspective, I don't think oil is going to stay at this level for long...there are just too many forces at play here, not to mention the geopolitical strife that will come from many of the oil producing countries suffering big time. Saudi is the pushing force right now. There will be push back.
The "glut" as the press wishes to term it there, but not for long. China is in the midst of a stimulus package intended to wake that dragon up. Demand will follow.
But all of that is going to take several months, perhaps a year, to play out.
In the meantime, the 80 cent dividend equates to about 5% for me at $15. Earning 5% whilst waiting for oil to come back up to $75 is bearable. Though I would much rather see this stock trading between $15 and $20.
Still a bit to get to the close. Since it is the season...I feel like George Baker in the movie It's a Wonderful Life, keeping the bank doors open until closing time. $11 is okay. This morning during pre-market I saw much lower numbers. Let's hope this stock holds the line until oil recovers.