Hey guys, new to playing the stock market and looking for advice. Let me start off and say I am extremely lucky to have such generous grandparents. Earlier this year they decided to transfer a significant number of shares of $HLX to my brokerage account. Well if you looked at the 1 yr price chart its pretty much has nosedived. If you don't know $HLX is a offshore oil drilling company so with the massive drop in oil recently this explains the drop.
My questions is with the anticipation of even lower oil prices and the possibility of a bear market this year should I cut my losses now and invest in some low risk stocks and then reinvest into an oil company once it starts to rebound? Or should I just ride this out and hope for the best, maybe even buy more shares? I don't need the money so I can hold on to this for several years or longer.
I know the first scenario goes pretty much against every basic investing advice (buy high/sell low, don't try and time the market), but I figure $HLX won't be turning around anytime soon and I can at least stop the bleeding. But at the same time the stock is pretty much at rock bottom and I don't think it will drop much more (although every time I think that it drops some more). Any advice would be appreciated.
Submitted January 14, 2016 at 04:30PM by jeebus_lapnap http://ift.tt/1J5Q2Ha
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