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  1. #1
    Member BigSexyPhoenix's Avatar
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    Anyone else invested in Continental Resources?

    I am and I'm taking a beating right now. I was up 13 bucks a share a couple of months ago and now I'm down about 7 bucks a share from my buy in price. I'm debating on cutting my losses but not completely sure. What do yall think?

  2. Stocks/Investments Moderator boneil's Avatar
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    #2
    Only you can make that call. CLR is dependent on the price of oil. Why did you buy in the first place? Is that reasoning still at play? If so then it may be an add. If not, then maybe you sell. They have earnings coming up. Maybe wait till then and see what they have to say. What kind of property does CLR have rights to? Could they be a target? I don't know the answer to your question, but I do know it sucks having a profit turn into a loss. Thats why its important to have a plan before you buy: Why do you buy? At what levels do you add more. And where do you sell.

  3. Member BigSexyPhoenix's Avatar
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    #3
    Well, I bought in figuring the price of oil would not stay low for very long. My broker suggested the stock and it performed well for a bit and now it's dropping quick. They are heavy in the Bakken Shale play and I think they have capped a bunch of rigs due to the low price of oil. Also, the company owner, Harold Hamm has had his share of personal problems of late. I was planning on holding for long term but I'm getting a little antsy. I'm still ok but I don't want to take a compete beating on it. Im thinking I might decide what my lowest point would be and set that as my decision to bail. At least I can limit my losses.