Stock Trades: Sold Midway Energy (TSE:MEL)

Yesterday, I sold 800 shares of Midway Energy at 3.14.

In at 2.94, out at 3.14, profit = +6.12% after commissions.

Stock Trade Commentary

I decided to lock in some profits with Midway Energy with the intention of buying back in if it ever falls back to the 3$ price range. Midway is an excellent company but I wanted to give myself some maneuvering room by freeing some money. Unfortunately, as usual the price keeps rising after having sold; got to always remember that timing the market doesn’t work, in the end 6% profit is not too bad and the closing price ended up being lower at 3.13.

It’s been a while my stock trading activity has been slow because May’s correction completely tied down the troops in negative positions. Mr. Market buys and sells at whatever price he perceives to be fair. I am still expecting a reshuffling to happen in my portfolio as we progress through earnings season. I am also keeping my eye out for any air pockets the market might hit in order to pick up some prized targets.

Have you been buying or selling any stocks?

Related posts:

1. Stock Trades: Sold Midway Energy (TSE:MEL), Bought WestFire Energy (TSE:WFE)
2. Stock Trades: Sold Midway Energy (TSE:MEL)
3. Stock Trades: Locking Profits with Midway Energy (TSE:MEL)
4. Stock Trades: Bought More Midway Energy (TSE:MEL)
5. Stock Trades: Back into Midway Energy (TSE:MEL), Bought Spartan Exploration (TSE:SPE)