Yes, I owned BP stock!  It was up pretty big this years, until now.  I got a small gain, but not near as big of one that I would have if I sold the first day.

Why didn’t I sell my position in the stock on the first day for the new of the oil spill/leak?

• I thought the spill would have been contained by now.
• I thought it might recover some of it’s losses for that day the next day or so.
• I didn’t realize how bad the oil spill was.

My gut instinct was to sell as soon as I heard.  They say that the oil leak may take up to 3 months to control.  Three months!!!  That’s a very long time.

Why was I in BP initially?

It had an 9% dividend when I initially got in!!!  It was a great oil dividend play (athough I only had a very small position).  It would be a great oil stock dividend play today if it wasn’t for that oil spill.

I’ve read online that people  like me are overreacting, but even if I am, the stock will still drop.

I feel bad for the New Orleans Shrimpers down there!  I don’t think there is going to be an easy answer!

Readers:  Sometimes, does seem that a dark cloud follow you in your investments like they do with me?

-MR

Update (05/05/2010) I jumped back in read it here!