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Non-Cattle Specific Topics
Coffee Shop
Stock... Sell or hold?
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<blockquote data-quote="greybeard" data-source="post: 1336396" data-attributes="member: 18945"><p>Depends--do you have enough other income to make use of a tax loss sale?</p><p></p><p>It would be hard for me to sell any equity at a nearly 50% loss on buy in value. RIG is still making a profit (reported $249 Million profit 1st qtr 2016) but how much of that is a result of cost cutting measures is unknown. They still have a backlog of work yet to do, mostly for Shell and Chevron, but both those companies are cutting back exploration. </p><p></p><p>The only way I see to "make $" in this case would be to sell at current price, hold the proceeds and hope it drops to half or more current value and buy back in, assuming a rebound begins thereafter, but I just don't see RIG dropping to $2-3/share. </p><p></p><p>As far as buying another stock, some of the ones I have seen mentioned in other posts are at or near all time highs.Wrong time to buy IMO.</p></blockquote><p></p>
[QUOTE="greybeard, post: 1336396, member: 18945"] Depends--do you have enough other income to make use of a tax loss sale? It would be hard for me to sell any equity at a nearly 50% loss on buy in value. RIG is still making a profit (reported $249 Million profit 1st qtr 2016) but how much of that is a result of cost cutting measures is unknown. They still have a backlog of work yet to do, mostly for Shell and Chevron, but both those companies are cutting back exploration. The only way I see to "make $" in this case would be to sell at current price, hold the proceeds and hope it drops to half or more current value and buy back in, assuming a rebound begins thereafter, but I just don't see RIG dropping to $2-3/share. As far as buying another stock, some of the ones I have seen mentioned in other posts are at or near all time highs.Wrong time to buy IMO. [/QUOTE]
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