Stock Trades: Bought SkyWest Energy

buy-or-sellToday, I bought 7,500 shares of SkyWest Energy (TSXV:SKW) at $0.58 in my non-reg account.

This brings my holdings to 15,000 shares at an average price of $0.705 in my non-reg account.

Stock Trade Commentary

This should be the last buy of SKW as my holdings are up to 30k shares distributed amongst 3 accounts. I was not able to find an explanation as to why it is trading below NAV and I intend to hold until it recovers. At this point in time and with the uncertainties out there, it might even go lower before it goes higher, but I have no margin on this account and I can wait for it, I will stick to the fundamentals until I am proven wrong. While I was waiting for my order to fill at $0.57, I finally went ahead and bought at $0.58 since I will be holding it for a while, let’s get over with it and down it went to $0.57 (what’s new). If I am not mistaken, SKW should still provide us with a detailed capex program for 2011 before the end of the month.

Eric Nuttal’s top picks from yesterday were WFE, NVS and ONR so don’t be surprised if they’re amongst the few stocks showing green today!