I bought BP (BP.US) at $28 and I’m currently up around 70%. I’m trying to decide whether it makes sense to take profits now or keep holding for longer.
My main question is how people here are thinking about BP at current levels. Do you still see upside from here based on oil prices, dividends, buybacks, and valuation, or does the risk/reward now favor selling or trimming the position?
I’m a bit torn because locking in a 70% gain feels sensible, but I also don’t want to exit too early if the stock still has room to run. For those following BP closely, what would you watch most right now: earnings, energy prices, debt, macro conditions, or something else?
Not asking for financial advice, just looking for different perspectives from people who follow the stock.
Bought BP at $28, Up 70%. Hold or Take Profit?
byu/Foxiya instocks
Posted by Foxiya
12 Comments
Taking profit for profits sake? Not my cup of tea. Plain and simple. Why did you buy it? Are those reasons still there? Would you still buy it today?
Buy when oil below 60, sell when oil above 100. You can DCA or how you want it.
Hold OR set a stop loss.
70% isn’t enough?
Hogs get slaughtered.
Take profit
Sell & buy Novo, I would say it is the one of Europe which got beated down the most and has because of that terrible guidance will be beaten for sure and get a good double digit return in few months. Insiders & stock repurchases are buying… US oil stocks getting double top now. Grow 70% is easy. Grow 300% in same stock is painful under it was severely undervalued (such as rolls Royce)
Take initial investment + 50% off the table. Let the rest ride
I got rejected for an internship at BP last month.
BP.LSE. Bought at 495, currently 608. This is an interesting one. Setting an alert for 700 and, possibly, dumping at that price or holding for long-term. Undecided. Though right now this is compensating for my MU, which is driving me nuts.
Personally when I own an investment that goes parabolic I sell some of it. That way you kind of get the best of both worlds. You lock up some of your profits but you also can make money from future upside as you still own some.
Try to hold to 100% and then sell 50% and you can’t lose money!
Take profit!!!!!!!