Another lurker bites the dust!!
After having read this newsgroup and profited by its calls for more than a year now, I am mending my ways. First of all, I wanted to thank everyone who posts here (with only few exceptions) for the invaluable advice I and my portfolio have received by reading Strictly: Drilling and oil-field services. The only way for me to post was by paying up. Secondly, guilt got the best of me. Third, since I have made a substantial amount from investing in energy. I thought it was time to give a little bit back to SI and to participate in the discussion.
My style of investing is some combination of long and intermediate term. I like to get long term capital gains on my holdings if possible. I recently sold FLC at 29 1/8 after holding for over a year. I am still holding OEI which will reach one year holding period in December. I also have TMR and RRC which I have purchased at various times and various prices, some of which is approaching long term. I like to sell covered calls when I think a short term high has been reached but my ability to call the short term highs is somewhat suspect. I will buy back and roll up to the next strike in this case. I also like to buy calls for short term trades (1-2 months) when a short term bottom is reached, using options that are in the money and with more than 3 months until expiration. I am almost at the point of considering puts as insurance, though I think that I am too cheap to shell out the insurance premiums. I really believe in self insurance.
My retirement is institutional with Fidelity and I am limited to mutual funds and have been trading the Select Funds for years. I presently am heavily weighted in Energy Service (FSESX) and Energy (FSENX) and try to hold these for at least 30 days so to not incur a 0.75% exchange fee. My trading style in the funds is momentum investing but until the current correction is over, I will probably remain in energy.
Early this week I bought PGO, GLBL and PKD using buy limits at the bottom of what I thought would be their trading range, chosen by looking for support levels. Two out of three nice gains is not too bad, so far. These last trades, which I may hold for short term, convinced me to get premium membership and post this message.
I think I will stop here. So hello to everyone, thanks for the invaluable advice and I will see you around.
Rolatzi |
