Yesterday I bought 1,000 shares of PetroFrontier (TSXv:PFC) in my HELOC account which I sold today.
In at $2.60, out at $2.79, profit= +6.54% after commissions.
I also picked up 1,000 shares of Spartan Oil (TSE:STO) in my HELOC account today at $2.42.
Stock Trade Commentary
When panic grips investors, they dump sell first and ask questions later. The idea is to try selling them back their shares when they start asking questions. There’s absolutely no point in discussing fundamentals underlying PFC, STO or any other stock for that matter because it doesn’t mean a thing to Mr. Market right now. I have been absorbing losses for the past weeks and thought it was time to fight back with some quick ins and outs based on price action. These are stocks I know very well even if they are not part of my portfolio right now. Monday is another day; we’ll see how the trade with STO goes.
Have you started nibbling in this market or do you expect more pain on the way?
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