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| Shoot me now, but I bought on Monday morning - . Whether or not BP is here in 20 years is irrelevant to my position. Whether or not the lawsuits go on for years is just as irrelevant. I trade with a 20% rule on stocks & has treated me well so far - a 20% gain from purchase is around $46 per share. For perspective, a 50% retracement from Mondays low, up to where the stock was trading pre-spill gets it to $49 per share. Additionally, to protect profits, I'll stop out if the stock drops. Will continue raising the stop, up to the 20% gain & at that time will pause & make a concious decision to either exit the stock or continue raising the stop until the market pushes me out. Then will go on to the next.
While talking about stocks - check out the ticker "FEED" - this is a chinese hog producer & feed milling company. They've been beat up with recent news of extremely high feed costs, but I believe in the story of this stock & have been loading up on it. China now produces over 50% of the worlds pork & this company is in position to be a major feed supplier. http://www.agfeedinc.com/
Edited by Illini Corn 6/3/2010 17:04
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b p stock
