Today, I sold my 10,000 shares of Atikwa Resources at $0.095 from my TFSA account.
In at $0.08, out at $0.095, profit = +16.28% after commissions.
Stock Trade Commentary
Early this morning I decided to exit Atikwa Resources as they released their latest operational update on their new field Wildcat in the porcupine hills. I have always considered ATK riskier than my usual holdings. Now that I am holding Primary Petroleum almost as a lottery ticket since yesterday, I decided to lock whatever profits were available on ATK.
Atikwa released positive news today; their latest well successfully hit a liquid rich natural gas reservoir. However, no details were provided pending further analysis. With further development down the road (upcoming well targeting oil in the Bakken), ATK might be a good long term hold and the share price might increase subsequently. At this point, I prefer to free this small amount of money and watch from the sidelines, there’s never a shortage of opportunities out there. I have to admit that the return for this level of risk is disappointing; on the other hand any return is better than a loss!