Yesterday, I sold my 3000 shares of Great Panther Silver (TSE:GPR) at 0.74.
In at 0.73, out at 0.74, profit = +0.74% after commissions.
Stock Trade Commentary
There is nothing wrong with GPR here and this was not profit taking. With my last purchases in my HELOC portfolio, this one was just not fitting in and given the general weakness, the entry price was not optimal. I might reconsider GPR if it dips below 70. For now, this was simply another troop extraction at no loss.
Midway Energys loss was primarily due to stock based compensation that was approved during this period. Even though the share price closed at 3.19, I would not be surprised to see it dip lower in the coming days. For now, unless a profit taking opportunity appears, I will be keeping these shares since the company is very active in the Cardium and targeting a 50% increase in its daily production by years end. I bought MEL as a catalyst trade based on the upcoming Q2 results which did not materialize well due to the reported loss. I always take into account what I perceive as solid fundamentals to hold this stock in the event that this situation happens. Just like my other holdings, I am often in contact by phone or email periodically to keep a close eye on what is going on in the company, after all I am investing and not gambling.
MEL is a great long term hold; however I am wondering what will the market be floating on once Q2 earnings dissipate? This explains why I have been shuffling stocks a bit and freeing money here and there.