Tuesday, September 12, 2006

I Need Some Energy

With oil in a little correction, I decided to dabble in the oil patch. Yesterday, I picked up some Devon Energy (Ticker: DVN) @ $65.68. You probably heard of Devon Energy with their huge oil discovery in the Gulf of Mexico. I sold of Amgen (Ticker: AMGN) in my Roth IRA to fund this purchase. Shares of Amgen were purchased in 10/31/02 and generated a return of 32.77%. I still like Amgen and hold shares in my non-retirement account.


At September 12, 2006, Blogger airborneintell said...

I think you made a mistake in selling AMGN and buying energy at this point.
However, I like your site.
Keep up the good work
Andrey at stockforlife.blogspot.com

At September 12, 2006, Blogger Money Turtle said...

I still have a good chunk of Amgen and still like it alot. Biotech and pharma still make up +80% of my portfolio. I wanted to get a small exposure in energy so I nibbled on some Devon Energy. It's a little contrarian play. We'll see...


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