I bought 14k worth of oil related stocks(xom, mro, uso, dvn, xle, cop, oxy, cvx, x) on March 7~8. I am not sure if I should hold or cut my loss before it is too late. Any advice would be really appreciated (sorry about bad english in advance)
I just started my first job last year. This was the first real investment I made. Before this I only owned 2k worth of VTI. To be honest, I dont know much about investment and the stock market. I was trying to learn and I wanted to start intesting because I kept hearing about “Time in the market beats timing the market” and the inflation is high right now.
I read the news and some analysis(even yesterday i still saw many anlysis that suggested these stocks are a buy…) and thought it made sense that the oil price and oil related stocks would rise so I put in some money on March 7 and it immediately went up by 4~5%. I got greedy and went in with half of my saving. Little did I know, the market is about to crash.
The next few days I was still hopeful as some of them seemed recovering. There was a chance when I could go away with just a loss of $150 but I didnt want to end my first investment with a loss so I missed it. And now here I am with a 1400 deficit…
I know I made a mistake. I shouldnt try to time the market. I am looking at the chart of these stocks. I am scared their prices will fall back to the level before the urkaine invasion started. I would like to hear some advice.
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