I also bought 500 shares of NAL Energy (TSE:NAE) at $12.14 in my HELOC account.
Stock Trade Commentary
Lovely markets I tell you, commodities are bleeding. As markets drop I continue to expand margin usage and reserve deployment in what I like to describe as “surgical strikes”. These mobile operations might result in a little % of profit which helps make up partially for losses being sustained by my core holdings. On the other hand, the troops might end up tied down for a long time if the capitulation continues until they can break out at no loss. I would not mind holding any of the 2 for an extended period as I believe the market will recover sooner or later (Q1 results are right around the corner).
Even though NAL is currently yielding 6.91% in dividends, I am not sure if I want to keep it because I have a decent amount of dividend payers. Add to that the fact that we’re not even in the middle of the summer yet and energy stocks might have a further leg down. EME hit a new 52 week low and I grabbed a few shares expecting a small uptick sooner or later as it is currently trading at a significant discount to its peers.
Is your stomach handling this wild ride?