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gosouth

3,051 Posts.

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13/11/14

14:12

Post #: 14284460
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Originally posted by bhutos ↑

I might not have been as clear in that single post although I'm sure I've posted previously about my rough strategy, it's not dissimilar to what you're saying, I just tweak it with leverage.
My largest parcel is at 27c from mid 2012. I BESBS with the best of them and have only accumulated over the years for my underlying holding, I recently bought my second biggest holding on the weakness this year in the mid 30's.
My strategy has been augmented somewhat after my experience with PCL. With PCL I managed to replicate my entire holding synthetically with guaranteed stops right before the drill so I was able to sell out my core holding (@1.2c from 2009) at 21c pre final drill results with no loss of upside and only 14.28% of the risk. I now augment all my LT holdings with synthetically geared holdings over the top close to pre-spud appreciation (given guaranteed stops are rare as hen's teeth on spec oilers an early CFD position often has to suffice).

If you don't use stops on a leveraged positions it's quite easy to lose more money than you started out with, even if they are annoying on lightning ~20% dips. When using leverage I am generally fine being stopped out in trends. For one it stops leveraged losses and two it's only my trading portion which I actively manage. I didn't expect a rally so soon and had figured it might be built solely on temporary buying from the roadshow/recommendations so I didn't immediately reset. After the run to 58c I had assumed the base was building for pre spud action and the pullback to 50.5 was a fairly solid platform for a pre spud run up.
I still have some CFD positions that weren't stopped out from a little earlier that are now back in the green. It's annoying but that's the market, and I'm only talking about ~20% of my overall position here.

lol @ the idea of selling my two and a half year old 27c holding 3 months before drilling and losing my cap gains reduction potential! That's half the benefit of BESBS!

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I did say I thought you were savvy LOL.
Hear you loud.
Once upon a time I used leverage with oilers, without too much stress.
But not anymore.
Cheers
Gosouth

PVD Price at posting: 49.5¢ Sentiment: Buy Disclosure: Held
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