Stock Trades: Bought Second Wave Petroleum

I bought 1,000 shares of Second Wave Petroleum (TSE:SCS) at $2.48 in my HELOC account.

I am currently holding 2,500 shares of SCS at an average price of $2.48 in my HELOC account.

Stock Trade Commentary

My position is now complete in Second Wave Petroleum. In February, 1,650 boe/d of production at Judy Creek should in theory be restored with 3 oil wells to be brought on later in the 1st quarter. The company still has 1,000 boe/d in production from other areas so operations did not come to a complete standstill on a company level. February will provide an interesting operational update once the new refrigeration plant is started up and all the shut-in wells come back online.

January has proved disappointing as I failed to take profits aggressively like I usually do in my HELOC account (think EQU for example). As such, I have missed some good opportunities during the month. I also wasted a lot of my time on my webhosting issues that are now hopefully something of the past. No harm in refreshing my aggressive spirit in grabbing money off the table instead of settling into a buy and hold mentality in such markets. When on margin, no mercy should be shown towards paper profits at all!