Congratulations on RIG, Jacob!
(and all who bought it in the mid twenties!)
You did well!
I missed out!
I thought there would be a major dip when the new 110 million shrs were issued. I explained why I thought selling pressure would drive down RIG's price. But the situation changed dramatically when it was announced RIG was to be added to the S&P500. No more Index Fund and mimic selling. And RIG then was a much more attractive holding for many funds and individuals.
---I thought we would still see a lesser sell-off even then, and we did, but as we all know it was included in a general sector down move. So who can say what would have been? Maybe without that sector move there would not have been any RIG dip, and I'd have been completely wrong. Maybe it would have dipped more without the sector move. Who knows???
Anyway, RIG didn't get low enough for me to buy, so I'll not be buying RIG for now. My BHI (that I bought on the 12/09 sell-off and was going to sell to buy RIG) is doing OK, so I don't feel too bad. I'll just hold onto it for now.
And, as they say, they'll be another opportunity another day.
I'm pleased for all who did well with RIG
--- I wish I'd been among you!!
I think RIG is a good one to hold onto long term.
But Jacob, your purchase, as I remember, was based on RIG's recent trading range, and ignored the (then) upcoming huge new shr issuance.
---You didn't expect the S&P500 inclusion, you were just trading a range.
---Based on your posts at the time, you hadn't considered the potential consequences of the new share issuance, and seemed in your post at the time of your purchase to be ignorant of the SLB/RIG situation.
Jacob, you did well because RIG was added to the S&P500,
--NOT because you made a good call based on an incisive analysis of the company and its situation.
Jacob, I think you look silly posting a brag that
<<<"... I said in December that the low 20s was the bottom, and it was up from there. ...">>>
---when what happened was that You Got Lucky.
Nothing wrong with luck!
But that's what it was, imho.
Not you making a smart move.
Luck.
regards, and may your luck continue!
diana
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