Stock Trades: Sold Daylight Energy

buy-or-sellToday, I sold 1,000 shares of Daylight Energy (TSE:DAY) from my HELOC.

In at $4.75, out at $9.70, profit= +103.8% after commissions.

Stock Trade Commentary

Bought on Friday, sold on Tuesday! No claim to fame on this one, just pure luck. Goodbye Daylight Energy, you will be missed. I am in no hurry to replace DAY with another dividend payer as the market won’t be rising in a straight line. With this acquisition behind us a new merger has just been announced today between SkyWest Energy and Marquee Petroleum. At first glance, it is disappointing and I am not impressed. However, I need to dig further before taking a stand on the subject.  The deal is valuing SKW at around $0.30 if I am not mistaken which is a “premium” to the current price but not to those who bought higher up such as myself. One thing’s for sure, I will not be enjoying the proceeds from DAY since they will have to be matched with tax loss selling and SKW might end up a candidate for that matter. I will publish an opinion regarding the SKW/Marquee deal as soon as I dig up more info.

What’s your take on SKW’s merger with Marquee so far?