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LIMOMx2
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Member since 5/05 24989 total posts
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Just sold some stock before the market opened because I just heard...
that the market is going to be soo bad this week for Exxon. The worst in over a decade. And that is the stock we have.
Was that a dumb move? We want to put it in savings.
We have no idea about this stuff
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Posted 1/26/09 7:16 AM  |
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Porrruss
Nya nya nya
Member since 5/05 11618 total posts
Name:
Amy
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Re: Just sold some stock before the market opened because I just heard...
If you need the money within the next few years, then no, not a dumb move. That said, the advice thats always recommended is buy low, sell high. Now is the time to BUY stock if you have the extra money to do so.
The stock market will eventually recover. Unless you need that money soon, I'd leave it where it is.
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| Posted 1/26/09 7:38 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
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Re: Just sold some stock before the market opened because I just heard...
Posted by 5ofClubs
that the market is going to be soo bad this week for Exxon. The worst in over a decade. And that is the stock we have.
Was that a dumb move? We want to put it in savings.
We have no idea about this stuff
I wouldn't put a buy or sell to execute at the market open without putting a limit on it.
Today might be a very volitle day because of all the earnings reports coming out so you might have some major swings in both directions. As far as XOM, whatever you are hearing is probably priced into the stock already so it might be better to wait and see what it does.
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| Posted 1/26/09 8:35 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: Just sold some stock before the market opened because I just heard...
Posted by Porrruss
If you need the money within the next few years, then no, not a dumb move. That said, the advice thats always recommended is buy low, sell high. Now is the time to BUY stock if you have the extra money to do so.
The stock market will eventually recover. Unless you need that money soon, I'd leave it where it is.
ITA.
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| Posted 1/26/09 8:38 AM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Just sold some stock before the market opened because I just heard...
If you need the money within the next year then you should sell, but whats great about a company like Exxon is that their dividend yield is above 6%. (think of a dividend payment like an interest payment) The best yields I have seen at banks for a CD was 2.5%. of course there is risk with owning a stock, but I don’t see oil or oil company prices going much lower. (oil is off roughly 70% from its high) Given the world needs, I don’t think it could stay at these low levels for very long.
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| Posted 1/26/09 9:50 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Just sold some stock before the market opened because I just heard...
I actually read somewhere that the big oil companies like Exxon are good buys.
Even if they report bad earnings, it's more than likely oil is going to turn around and go back up. Maybe not tomorrow but probably sometime later this year.
When NYMEX goes up, so should Exxon, BP, and all the other big oil companies.
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| Posted 1/26/09 11:29 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Just sold some stock before the market opened because I just heard...
Exxon is actually up $1.40 so far today. What time do they report earnings?
Funny how oil is up today too.
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| Posted 1/26/09 11:31 AM |
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