Stock Trades: Bought TriOil Resources

buy-or-sellToday, I bought 1,000 shares of TriOil Resources (TSXV:TOL) at $2.95 in my HELOC account.

Trade Commentary

It wasn’t that long ago when I sold TOL in the $3.70s, the stock took quiet a beating since then but so did many others. I might be off with my timing for buying now but I believe TOL will be a winner in 2012. To be more accurate, that would be the second half of 2012 since we did not even hit the summer blues yet. On one hand, I am willing to ride it through as the company is oil weighted, focused on high impact wells in Kaybob and Lochend and will be exhibiting significant growth in production this year. On the other hand, there’s always a chance the market temporarily takes a breather next week providing me with an opportunity to grab a few points in gains. I hold a core position in TOL in another account so I always feel at liberty to swing in my HELOC portfolio.

The global economy is not doing great but it’s not doing that bad either, so I am enjoying all the red days as buying opportunities emerge. As attractive as some stocks are getting, I believe there’s still better opportunities to come this year simply because we have another European country itching to grab the spotlight: Bienvenido España! Yepps, Spain is starting to appear more often than not in the news: its bonds slid this week following weak demand which means Spain is having trouble borrowing from financial markets. We all remember Greece from last year’s roller coaster ride right? well Greece is a nobody economy in Europe compared to Spain which is the 4th largest economy. Does the EU hold enough fire power to protect Spain? Will the EU act in time successfully restoring investor confidence ? I guess we will find out soon!

What have you been buying or selling?

4 comments to Stock Trades: Bought TriOil Resources

  • Today, used some dividends in my wife’s RRSP portfolio to add some shares of MQL. The current price is so low that that it lowered her average cost price by nearly 50 cents per share.

  • Mich

    At these prices MQL is a true value play! Good move PWD, the best buys are on days like today.

  • Been tempted to add to MQL as well.

    I must say, we have some favorite stocks. I’ve done the same moves with Silvercorp Metals. Bought low, sold high, and bought other stocks. Now I’m back. The dividend and promises to raise said dividend lured me in again.

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