Today, I sold my 500 shares of Equal Energy at $4.90 from my non-registered account.
In at $4.73, out at $4.90, profit = +3.18% after commissions.
Stock Trade Commentary
There is nothing wrong with Equal Energy, I simply wanted to lighten up and free some margin. Of course, right after I sold, it hit $4.99! I wouldn’t be surprised if it breaks $5.00 next week on continued drunkenness with expectations of QE2. It feels weird seeing the market rise on bad news; it’s as if QE2 will be the silver bullet that will fix it all. Obviously, the market can’t keep going up indefinitely and will have to correct at some point. Hopefully by then some of my trades would have matured and freed some cash.