Do you own any other energy sector securities?
I'm mainly in energy myself, but have REITs and Telecom as well.
update on BP: since i started picking some up, it's given me a 19% return. not bad for a ~3-4 month period. i probably won't sell it just yet though, as i think it has room to rise further
GS on the other hand gave me a slightly positive return as late as last week, but has dipped in the red once again this week. this is probably going to be a longer term one
GJ on BP.
I didn't really trust BP so I went with RIG (Transocean Ltd) instead. I sold it after a 7% increase but it seems like I should have kept it longer. (It has gone up more than 25%)
The good news with BP is that their bond sale was a complete success today. In fact, they even sold more bonds than they initially had planned which means strong investor confidence.
I'm not an expert on all the sectors so I don't pretend to be. I like looking at individual companies rather than on overall sectors. Although, I consider financials, real estate and gold to be a bit risky right now. They might go up big but with all those complicated mortgage backed securities and with the shaky real estate market, I'd just rather not dabble in these stocks. (And I consider Gold to be... well, how can you value something that really serves no purpose besides jewelry?)
Right now, I'm looking at HARBIN ELECTRIC (HRBN). There seems to be a lot of shorts on the stock but the fundamentals look good and it's near its 1 year lows. Hoping for a short squeeze. It's a Chinese company so it's tied to the Chinese auto making industry which is growing. (If you believe those Chinese government reports)
Hopefully, we can close the year off on a more positive note.