Thursday, April 13, 2006
At least for me.
I have been trying put a chart of Suncor Energy (SU) to no avail. I own the stock personally at $60. It is at $82 now, so woo-hoo right?
Well yes but my purchase was in September of last year right before it went down to $50 (actually a little lower). I do not own this stock for clients, they own a much less volatile oil sand name.
The point here is about when to exit and when not to. I certainly could have found a much better entry point but I buy into the oil sand theme enough that I did not want to sell, even down 15%. Putting a stop order 8% under the purchase price of every stock you own has never made sense to me (I have written about this before) and this is an example of the point.
As for buying it here I have no feel for whether $82 is a good entry point or a bad one. If blogger comes back I'll add the chart to this post.
Posted by Roger Nusbaum at 8:44 AM