As much as I hate to admit this, even though I had traded both, I was having trouble deciding whether to long term invest in RIG or COP in Jan and let 'The Street" influence my decision to buy the integrated instead of the driller. Bought COP at $49 currently at $46. Rig was about the same price, currently at $80.
I actually listened to Cramer and....
- Thread starter chrismontez
- Start date
Your story is a nice anecdote.
Even clowns make lucky predictions once in a while, right?
Hell, a monkey can flip a coin and pick winners nearly 50% of the time, right?
Leonard the Wonder Monkey:
http://moneyblogsite.com/index.php/jim-cramer-vs-a-monkey/
Even clowns make lucky predictions once in a while, right?
Hell, a monkey can flip a coin and pick winners nearly 50% of the time, right?
Leonard the Wonder Monkey:
http://moneyblogsite.com/index.php/jim-cramer-vs-a-monkey/
"If this is a long term investment made in January, why do you give a shit where the price is now? Being down $3/share after 5 months on a long term play is nothing to worry about."
Well I'm not down as I hedged with short calls and have a BE in the high $30. But being up $35 on Rig would have been a lot nicer than $6 on COP.
Well I'm not down as I hedged with short calls and have a BE in the high $30. But being up $35 on Rig would have been a lot nicer than $6 on COP.
"could have easily been the other way around...the only difference is that you would have let go of the winner by now..."
True and could have then bought COP almost for free with my profits from RIG. I'm not whining, just pointing out that all the reasons The Street analysts had for why the drillers were a bad play and, maybe even a short recommendation, were obviously wrong.
True and could have then bought COP almost for free with my profits from RIG. I'm not whining, just pointing out that all the reasons The Street analysts had for why the drillers were a bad play and, maybe even a short recommendation, were obviously wrong.