Steve, I did the same thing ... sold short to get in again later at a lower price. My reasoning: The RSI (Relative Strength Index) is close to 100 - HIGHLY OVERBOUGHT - with a temporary correction on its way. The rise since June is unsustainable in the short run.
the problem with that scenario is what if it runs higher before it pulls back and doesn't pull back to the level you sold and you are left behind?? The other problem is that it is a guessing game and it is based on premise that you are smarter than the market, sometimes it works and sometimes it doesn't is my experience.
You should have waited for the 18th at least to capture the dividend.
On the other hand, that's probably why COP is creeping up and will likely tank after dividend date.
BTW...ignore the other poster who is upset that people are talking about stock trading on a stock trading board LOL.
steve, i see no problem with this post, he is probably short being into Tesla and electric cars and just mad at the world, congrats, I have been in COP for 4 yrs and quite satisfied to have it as a core in my portfolio, I am in a similar stage in life as you retired. I really like this stock it has a very good dividend that continues to grow, a good future, a stockholder friendly management and has been very very profitable for me considering all the dividends, the spinoff, and improvement in price. I think they are planning on another spin off so I would get back in at the first opportunity and hold long term the tax rates are better long term. I don't say that about many stocks I wonder in jmc chews every person in the Mall out for not doing what he wants, a very unhappy person and you are not the first he has bashed for upsetting "his" world.
What makes someone post this? Self-importance? Do you announce all your trades online? How about IRL? Good profits for you and your 100 shares there but I don't want to look at your successes. Do you also post your losses?