Good news for BP and it will be great news for other oil companies as well. http://fortune…

sean, bp seems pretty overbought to me at this point, but with oil surging, it could have more gas in it, haha. what are your thoughts? you think bp will continue to rise or will it pause and pullback?
thanks

No, I mean that this is general good news for BP and the oil industry in general. Yes, BP and some other stocks are getting overbought and getting into decade long resistance zones, etc. I agree. No one can say for certain if it will finally break above the decade resistance zone ahead of time. So it's why one might consider selling all or selling half of their position. If selling half, consider placing a stop-loss near your breakeven point. The further then price gets away from its 200-week moving average, the higher the risks of a large percentage recoil.

Thanks Sean!

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You're welcome.

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Yes. Very helpful. I'll see gains of 31% if I sell now. I may do that based on the information above.

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BP and TOT have both run hard lately. And BP is in its long-term resistance zone area now. Can it potentially go higher? Sure. But since its run so far, so fast...I'd be inclined to take the large gain and lock it in by selling.

Really? Two years ago you had us buy it at $43 at UWR

Rnelson, you've also been encouraged most of that time to average down on your position. The stock went down to $24 and you had plenty of time to lower your average breakeven price. We've had plenty of former subscribers make quite a bit of money off of that position already. But they also allocated their money the way I suggested in that newsletter and averaged down on the ones I suggested. I can't help if you didn't choose to take that advice. But don't act like I did you a disservice. And by the way, the original buy price was at $41.49. So even one averaging down, plus the initial dividends would have already reaped you a great return.

Yep, that's right Sean. I averaged down and made lot's of money on BP.

Thanks for testifying to that. Those that take all of my advice (including keeping cash on the sidelines and averaging down on the most solid positions fundamentally) and not just the initial buy recommendation point, are the ones who prosper the most. I've taught these concepts for years. And I've taught that it's what Warren Buffett and others do as well. It's part of the key to success, to beating the market and having out-sized returns over time.

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