I really hope you didn’t do that. The oil stocks, according to Cramer, and I think he’s quite right on this one, will follow down for two or three quarters. Their profits will be adversly affected for those quarters and they won’t adjust to the new normal for at least 2 quarters.
Hold off if you can. (just my 2 cents).
If BP breaks 35, I’m buying - again. I’ve bought a total of 800 shares so far in the past couple of months, from 39 to 35. With the dividend it pays, I’m comfortable with my decision.
I’m also closely following XOM and CAT, and plan to add those to my portfolio within the next few months.
I had been taking profits over the past couple of years, in anticipation of buying opportunities.
As I’ve been an investor (as opposed to a trader) for 40 years, I understand the risks and opportunities.
Also, I hardly ever pay any attention to Cramer. The man is merely another loudmouthed frontrunner, who the SEC won’t touch because he’s politically connected.
IMHO.