Hello folks, this is my very first thread here so I'd like to take it as an opportunity to say hi to the entire community. I was long $OXY with 200 positions entered between $17.50 and $16, and decided to get out at $14 few weeks ago, seating on a $700 loss give or take. I was treading it without stop loss as in my idea I wasn't thinking it would have broken down the $15, but it did. So I took the time to re-evaluate the hit this global coronavirus pandemic is taking on the oil industry, re-evaluated $OXY debts, finance and future plans, and with $40B in debts and no chances to see oil prices back up to the $50 range anytime soon, I was a bit sceptical of re-entering $OXY just yet. However, it was kinda obvious it would have regained ground at some point and raise above the $12, which by the looks of it is likely gonna happen tomorrow. So yes, did I miss my chance of buying $OXY at $10 last week? What are the overall feelings for the oil market during the next 3 weeks? Has the stock got enough strength to break the $12 range? Thanks
1. Sorry about your loss but you learned stuff. 2. You actually made a pro move getting out at $14 because it continued to fall after that. A lot of people who still be in at $10/$12 3. I do not know much about the oil market or OXY. My only thought is that oil is not in rally mode. 4. You probably did miss an opportunity to buy at $10. A lot of stocks were down last week and only the Gods really know why. 5. OXY $11 9/18 call options would have been a winner today but it was a fluke. Conclusion - OXY will move slow unless there is some secret out there. It is a good stock if oil ever gets back to $50+. Would look to tech sector for faster gains. However, tech is currently priced in. Really not the best time to start playing the market.
I was reading about the warrants. though I am more interested in buying MRO senior notes. Just don't know how to do it here in the UK. The trading platform I use doesn't have any of those.