Seeking Alpha
, Random Roger (248 clicks)
Portfolio strategy, ETF investing, foreign companies
Profile| Send Message|
( followers)  

Roger Nusbaum submits: I've owned Suncor Energy (NYSE:SU) personally from $60. It is at $82 now, so woo-hoo right?

Well, yes but my purchase was in September of last year, right before it went down to $50 (actually a little lower):

I do not own this stock for clients -- they own a much less volatile oil sand name.

The point here is about when to exit and when not to. I certainly could have found a much better entry point, but I buy into the oil sand theme enough that I did not want to sell, even down 15%. Putting a stop order 8% under the purchase price of every stock you own has never made sense to me (I have written about this before) and this is an example of the point.

As for buying it here, I have no feel for whether $82 is a good entry point or a bad one.

Source: Suncor Energy: Why Stop-loss Orders Aren't Always Helpful (SU)