Quote:
Originally Posted by SSLance
I didn't get my full shopping list sorted until after the market closed last night, too busy at my day job...
I executed the trades this morning even with the big bump... Little ticked that I missed yesterday's prices but still overall very happy to add to the portfolio at sale pricing.
I struggled adding any to my oil stocks even though they looked very attractive on the sheets. I added to them on the last dip and felt overweighted this go around. Only one I added to this time was KMI.
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The old saying "buy when there's blood in the streets" - while is easy to say - is hard to do. When I bought shares on Monday - none of it was oil... I own enough - they're mostly bleeders - and while they are compelling on a price basis relative to where they were.... other than the pipes... the dividends aren't really covering the possible continued downside risk. Risk needs to carry a comparative reward. My "feeling" in this space is that it's not going to be a sudden snap back where if you didn't get in you're going to miss out. This is a very large commodity and the prices inch up and drip down... A prudent investor - if he's already in - is probably better off watching and waiting. IF a guy is not already in - it's probably better to wait until there's real confirmation that oil is up and heading higher. The counter statement to "buy when there's blood in the streets" is "don't try to catch a falling knife" -- both are true enough - why not wait until the knife hits the floor.