Today I bought and sold Petaquilla Minerals (TSE:PTQ) in my HELOC account.
In at $0.95, out at $0.92, profit = -3.68% including commissions.
Stock Trade Commentary
Here’s something I don’t usually do: change my mind after buying into a stock. With that transaction, I am sad to report my first loss registered in my HELOC account after dozens of transactions. It was bound to happen; losses are inevitable. What matters most is to have as few of them as possible.
PTQ is looking undervalued compared to many of its peers. It is a gold producer in Panama and guiding for 100k oz production. However, something is fishy about its trading. The price of gold rose today where PTQ’s share price was falling due to some anonymous house dumping. Whether it was warrants or whatever I do not feel like sitting there for months waiting for it to turn back. When in doubt stay out, in this case, get out!
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