These stocks get knocked around a lot with the price of oil. I play a portion of my positions around the movements in the price of oil. If oil price goes to < $70, I'll pick up some more RIG, DO, MRO, MDR, OXY, CVX, FTO, HAL, NE, NOV, TSO, VLO, WNR, etc. Gets back up to $80 or so, I'll take some profits. That strategy has worked pretty good over the years. I might buy or sell too early in the cycle, but the oil price excursions have been trending very much up. I invite my FRiends to join the party! The mutual specialty energy funds have done very well for 4 years now too.
I only once went over 20% margin, with cash buyouts in the portfolio, usually stay less than 5%.
The $50K 0% CC offer was simply an offer I could not refuse. It replaced some of my 8.5% margin debt at the time. I put the minimum monthly payment on autopay with the CC company to eliminate the chance of going to the default usury rate. It worked out fine.
I tripled my money in the late 90’s in FLC, which was later acquired by RIG. I think you are correct. Oil is a great long term play...I haven’t been in since FLC, but I will check it out. I am currently getting my butt kicked by the mortgage stocks...oh well, it’s just money.