Yesterday, I bought 1000 shares of TSE:EME Emerge Oil and Gas at 3.51.
Stock Trade Commentary
I love to buy my stocks when investors are worried about stuff. Yesterdays fall was brutal, and its a shame I did not have more reserves to deploy. I still picked up EME on margin at an excellent price; the low of the day was 3.50!
EME started trading about 6 months ago on the TSE, they are 98% oil and I find the share price undervalued at this level. That does not mean I will be holding it for the long term because its bought on margin. Unless I can trim some Fortuna at no loss, I might end up selling EME for a quick 5% if the opportunity presents itself. This stock was trading north of 4$ not long ago.
My silver play IPT is starting to show signs of life, I would love to see this stock break through 1.40 and into the 1.50s. However, Silver took a beating yesterday, it might take a while to recover. Lots of things happening with IPT in May, I am expecting a positive Q1 report and an operational update on their new mine in Mexico.
How about you Reader, did you pick up any shares yesterday?