RE:RE:Reply to PonyboyoutsiderWell, Mr. Ponyboy.........now that you've clarified the situation with addtional details, that really makes a lot more sense and it's very close to what i've rec'd you do. In essence, you bascially did what was needed to be done with that position. Which i find to be very logical & appropriate
So in consequence i retract my comment of calling you foolish AND i fail to see WHY you would say that you were foolish in the way you proceeded with this poistion. If i was in your shoes, i would have done almost the same exact thing. I would have stggered the liquidation a little different that what you did, but in the end, the results are more or less indentical.
I know you would have preferred to sell "almost" everything at the top. But tops & bottoms are extremely difficult to time or predict. I was also invested in this two years ago, though my positon wasn't as large as yours, my cost much much lower. I was actually lucky enough to "get" the very bottom in this case but i did not hang as long as you did. But my roi was still 5X+ in a very vdery short period.
Wha you need to analyse now, is what to do with the remaining 300K. I personally would NOT have held on to that many after the stock ran from a dime to $7 in two years BUT that;s your call not mine. Again, if i was in your shoes, i would liquidate another 150K around these prices and leave the rest for further gains....if they come. I'm not quite sure what your financial situation is, or what percentage of your portfolio this position represents. Assuming the following, IF invesment is greater than 10% of your OVERALL portfolio, and you have NO OTHER investment in this sector, then it would be prudent (as well as smart) to sell more and reinvest in "other" O&G entities, which may offer more upside. JMHO
So again i do retract my comments for you eing foolish, as you've more or less what any good investor would have done in your case. But it seems that though we both more or less agree on the strategy to be implmented here.....or has been in this case. It seems according to folks like like Mr. IndianJoe......we are both fools to him to having done so....lol.......i guess we're just not as astute or savvy as our aforementioned colleague. Maybe we should get into the "kwikEmart" managing business as seems very proficient in that as well.