Trade 1 of 187 on my Quest to Invest to a Million

Well, looks like my speculation didn't ring true. Chevron's earnings announcement disappointed,the primary reason being cited as a weekend US dollar.

http://www.reuters.com/article/idUKTRE69S1IS20101029?type=companyNews

Three things I'd like to highlight at the end of week one - Emotions, Hedging, and Timing.

My emotions are down right now. I feel tempted to sell because I think the momentum in this space is down. If I sell, I'll have to make a 5% gain to get to where I want to be. So do I take one step forward and two steps back, or do I do nothing? Do I think the share price will recover quicker in CVX than something else?

This leads to the topic of hedging.

http://www.investopedia.com/terms/h/hedge.asp

Making an investment to reduce the risk of adverse price movements in an asset. Normally, a hedge consists of taking an offsetting position in a related security, such as a futures contract.

My hedge here is the fact that the stock was purchased in US dollars. Oil and US dollars have an inverse relationship, so if the price of oil goes downs, and takes the price of the oil company (Chevron, NYSE: CVX) with it, than there might be some redemption if the US dollar goes up.

The purchase price of the stock was $84.93. The Canadian Exchange rate on the date of purchase was 1.03400.

Today the purchase price of the stock is $82.60. The Canadian Exchange rate today is 1.0188. Double whammy.

http://www.google.com/finance?q=cvx

This means my purchase price was $87.82. The value of one share of the stock today is $83.57. I'm down 4.8%.

Timing. Do I think I can make 5% in CVX, or is there a better opportunity out there? This isn't about having a vested interested in CVX.

I'm gonna hold for now. My 187 trades might take 187 years, but hopefully not:)

What's your vote: hold or sell? Help me make my decision by commenting.