Suncor Energy Inc T.SU

Timing the market

[lifeisgood1010]

i said it many time before,

NOBODY can time the market.Some think they can but it's an illusion.

Once in a while, you can be lucky.And yes, luck is a part of anyone's success.

When you buy a great company at a decent price, you stay with it until you see a change in
the reasons you have bought it.

It's time in the market that make us succesful not trying to time the market.

I will give you an exemple of a  HUGE MISTAKE i just made.

Going on vacation in mid March, i sold 40,000 of my 50,000 shares of DRX
at an average price of $9.40.I had bought these shares in mid 2021 below $2
and sitting on a huge profit.

Everything was and still going well with the company.There was NO REASON  for me
to sell but i did.

BIG MISTAKE.Fast forward one month and the stock is trading as i write at $13.90.

I would have $180,000 more in my account had i not sold.

Why did i sell.Because i am HUMAN and human do these type of mistakes
Selling to early to lock in profits.

I bought back 7000 shares when i can back in the low to mid $10 and now have
only 17,000 shares instead of 50,000.

We are all stranger to each other on these board so nobody will care about
my mistakes.

I write that to show that when we are invested in good company at decent prices,
we should try to resist selling until THERE ARE GOOD REASONS TO DO SO.
Not to sell just to lock in a profit

Big mistake, big mistake.But Life is still good.

SU is my biggest holding and i will not do the same mistake as i did with DRX.

Staying long SU until something changes in the micro and or macro picture of this sector.

[pooltec]

lol.  Sold 2/3 SU yesterday and bought back today.  Was scared by the drop in WTI and continuing builds.  But as we stated TMX, Venzuela and Mexico heavy oil drops, cracks spreads, not over priced like CNQ and IMO and the Kruger effect are stronger.

[pooltec]

forgot about Israel "Eye for an Eye", summer driving season....

[pooltec]

forgot shorts down https://nakedshortreport.com/company/SU/

[Torontojay]

One should treat stock ownership like home ownership. We don't sell out home every 6 months. Also, there are valuables found in people's home such as art work or furniture that may have appreciated in value through generations.  We never think twice about selling an expensive item in our home but over time these pieces can appreciate in value. The problem with stocks is that we see

[lifeisgood1010]

Once again, Great post Torontojay. Could not have said it better. Now that the Habs have been eliminated for a third staight year from playoff. Go Jays Go

[aegisfang9]

Aren't you the guy who was on here months ago pumping these drillers? DRX and Akita?

[lifeisgood1010]

Yes, you can call it pumping. I call it sharing investment ideas.It's to you to decide to read and do your own DD. Also, there is a nice feature on this board call ignore.If you do not like my posts do yourself a favor, put me on ignore. DRX is not a driller.If you would just take a second to do research before writing you would know that. Also, if you think that any of my post or for that

[Torontojay]

Let me defend Lifeisgood for a sec.  I would not mind being called a pumper if I talked about a company for years and the stock turned out to be a multi bagger.  Drx is ~ $13.90 and 3 years ago you only had to pay ~ $1.51.  Call me a pumper any day of the week with those results.   

[Marty47]

Well I did sold my suncor at 53 , but I did it to move to a better opportunity , again was holding over 3?years bought at 20$ ..... like my old father used to say " it may going up more , or it can going done but if you lock a nice profit it's all good " 

[mbuch]

Doubled my money in 3 years and sold half a week or so ago too.    Will always be in the money on this one now.   You're correct, it's never wrong to take a profit.  

[Marty47]

You can't time the market but you can eliminate loosing too much $$$ , I became multi- millionaire by learning from my mistakes , I mostly focus on company that got good track record that pay at least a sustainable dividend , my rules # 1 never follow the crowd , #2 try to buy when every body sell , sell once you double your money or triple it #3 don't listen analysts , make your own