I've been bagholding numerous oil, oil service, precious metals and potash (feritlizer) since 2013-2015. I bought as these stocks were declining from their all time highs. However, they kept falling further. In all cases, I was carrying these stocks at a loss.
I sold some oil stocks in December 2021 to harvest tax losses, fully expecting to buy them back in 30 days at the same price or lower. That didn't happen. With the expected Russian invasion of Ukraine, most of the oil and oil service stocks began going up in January. In some case, such as OXY, as much as 100%.
Now the oil, oil service, precious metals, and potash stocks are mitigating the declines in my other stocks. Many of the stocks have been going up 15%, 50% or even 100%. I feel vindicated for holding on, but I'm not optimistic the gains will be sustainable. Thus, I am slowly scaling out of these positions as the price rises, a few shares at a time, since the trades are commission free.
Hopefully, I will get out of most positions before they peak and start falling.
This is not financial nor investment advice. Please consult a professional advisor.
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