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What is your target and price at which you sell??

Ola Longballsd,

I talked to my broker today (when it stopped trading)and he said OIL is slightly over extended however the sector is very hot right now and he expects it to go even higher. He suggests that I follow the run up but put 'stops' a couple of points behind it to protect myself. I'm considering putting a stop in @ $22.50 or so. (My luck will be that I'll get knocked out on some profit taking and it will rebound even higher than before.) However, I'd rather take some $ off the table then to watch it drop even further. (That's always been my problem w/stocks-not knowing when to sell and watch my profits dwindle.
You sound like you've either had this stock for a while or have been interested in it to follow it for so long. I to have been following (on a cursory level)for a few years so when in March when I thought it couldn't get much lower i bought in. Interestingly enough, when I called my broker today, his secretary knew who I was and I've never even spoken to her. Also, I'm the only client of his who owns OIL. That I found a bit odd considering it's massive run up the last few weeks. It's gives me such great satisfaction the listen to him try to take credit for me buying OIL knowing that he had absolutly nothing to do with it and that it was totally my call. (He's only cost me money)

Again, thanks for all the encouraging and informative posts re: OIL. It's so appreciated and I can only wish you the best of luck with OIL and the rest of your portfolio.


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