Today, I sold 3,500 shares of SkyWest Energy (TSXV:SKW) from my HELOC account.
In at $0.697, out at $0.81, profit = +15.23% after commissions.
I also added 500 shares to my position in Second Wave Petroleum (TSE:SCS) at $2.41 in my HELOC account. I am currently holding 1,500 shares of SCS at an average price of $2.48.
Stock Trade Commentary
Now that Cequence Energy kept moving way after my sell price of yesterday, I shouldn’t look back in anger, I should just move on. When I usually complain to a good friend of mine about my timing, he usually answers back with “better to have lost potential gains than to have actual realized losses”. I agree!
I sold only 25% of my SkyWest holdings; I still own 10k shares in my TFSA. However, since my margin use is heavy in my HELOC, there is no harm in taking profits here and there and shifting money around. It’s too early for selling SKW in its entirety, still got some room to run in my opinion. My SKW shares in my HELOC are the result of buying at the end of December, that’s right, less than 2 weeks ago. So why not grab 15% in profits for less than 2 weeks of holding?
SCS is ARN’s little sister. I had good times with you ARN and now I would like to be with your little sister for a while. If the price was to drop further, I will gladly be buying more as I do not consider my position complete. Given the scarcity of troops, I have to be nimble in my deployment which explains the small amounts involved sometimes.
- Stock Trades: Bought Second Wave Petroleum
- Stock Trades: Bought Second Wave Petroleum and Valeura Energy
- Stock Trades: Bought More SkyWest Energy
- Stock Trades: Bought More SkyWest Energy, Sold Primary Petroleum
- Stock Trades: Sold Palliser Oil & Gas (TSXV:PXL), Bought Second Wave Petroleum (TSXV:SCS)