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Occidental Petroleum Corporation Message Board

  • playthegameoflife playthegameoflife Feb 15, 2013 3:39 PM Flag

    I am a stupid investor in OXY

    I bought oxy shares at 87.45 back in September. Last week, FINALLY, after all these months it came up to the price I bought it at, around 88.00. I failed to sell it last Friday. Yesterday, I failed to sell it at just under 87. Today, it didn't quite make it to my sell price. I would have been willing to sell it at 86. Now, it's heading toward 84. SCARY. I would have invested in Pharmacyclics earlier in the week. STUPID. So stupid. Who knows how long this Oxy crash is going to last. It lasted months the last time. Why is this happening all over again? I know the game is to make your money plus some. Fleece the new investors that bought above your price, but I can only blame myself for this utter stupidity. At this rate, I would stand to lose about $1k from yesterday. I'm still learning to invest, but these of price movements with Oxy seem to happen more on the downside than the upside. It's probably not going back up to 87.45 for another six months to a year. I hope I am wrong about that though! This is my OXY fkkking nightmare going on for nearly 6 whole months. Is it because the oil prices went down? Is the stock truly overbought? Are people coming right back in to bring it up again? I hate this game, it's like gambling with the need for predictive powers. **Banging my head on the wall right now really #$%$ off** So, either I've got to hold till tomorrow. I could have made $9k this week on Pharmacyclics had I just risked the loss of Oxy after it went down on Monday. ARGH!!!!!!!!!!!

    Sentiment: Hold

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    • The news is that OXY isn't a good short term investment. So if you're getting upset about daily/weekly/monthly fluctuations in the pps, maybe you're in the wrong stock.

      But it is a great long term investment. I bought about 1,200 shares of OXY for about $23,000 twenty years ago. I still own all those shares today, actually twice as many because they split once. Today, my OXY shares are worth $200,000. And the icing on the cake is OXY's dividends. The divvy payments over the years has more than covered the initial cost basis of my shares and this year I'll receive over $6,100 in OXY dividends. My only regret for my long term OXY investment is that I didn't let the dividends reinvest into buying more OXY over the years.

      If you want a gambling, short term, stock then OXY is not the place to be. If you are young, patient, and a long term investor then OXY might be for you. Good luck to all OXY shareholders.

      PS: I'll spend the dividends for my retirement but I'll leave the OXY shares to my heirs.

    • Don't fret it. Most of us are when juss starting out, particularly if you aren't the methodical type who does a lot of dd before cautiously dipping a toe.

      You're determined to operate in this playground, you're gonna hafta get a feel for trading ranges first (a thing you bought into at pretty much near the top of) then deciding upon and gradually developing a style, what your risk tolerance is, your goals, level of patience in achieving them and so forth. All of which takes a bit of time and experience. Oh, and learn a little about options. this is a must. Something I didn't do myself starting out, and it was one of my first mistakes.

      You picked a good stock to trade, with the bonus of a pretty decent dividend, and although you bought in a bit high the profit train still hasn't pulled so far out of the depot that you can't turn a nowhere near catastrophic boo boo into some green.

      One question you're gonna hafta begin by asking yourself however, since you appear already set to bail is "what was I thinkin?". I'd have to know the answer to that question myself if I were to advise you (which I'm not volunteering to do btw). I.E what was your strategy? Were you looking for a short term trade, hoping the share price to hold at somewhere near your cost and collect the divvy as income? Hold long term and sell at a higher price as fundamentals improve... what? Cuz if you imerely picked a stock the way you would a horse at the track because its name sounded cool and you felt lucky at that particular moment you might wanna consider keeping it to two dollar bets in that venue cuz this is a very serious racket that a fella with that sort of approach is almost a sure thing to bust out at.

      One other thing. You're not an investor, not with your attitude as expressed in your post believe me. But don't sweat it, cuz none of us are. We're all gamblers albeit with different approaches, risk tolerances, goals, insights, skill levels strengths and weaknesses. You're new at this racket and determined to stay, you'll have to begin with that understanding and through experience work all that out.

      Good luck.

    • Obviously, I'm not an experienced investor getting my first boo-boos during my first year of investing my money actively. It takes some experience and not being emotionally resistant to the potential for cutting your losses in time through proper stop orders in order to get some gains elsewhere.

      Sentiment: Hold

      • 1 Reply to playthegameoflife
      • You should sell covered calls and let time build your investment. When the economy starts to move OXY will surly move as well. Be sure to reinvest your dividends and enjoy the game. At least you are having fun with a healthy pursuit. A lot of young people choose to waste money on alcohol, meaningless vacations and option loaded cars. Hopefully you are maxing out on your Roth IRA. If so, your equity will grow and you will be less stressed over your cash accounts. Keep up the good work and be patient with yourself.

 
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