Stock Trades: Sold Spartan Oil

buy-or-sellToday I sold 1,000 shares of Spartan Oil (TSE:STO) from my HELOC.

In at $2.42, out at $2.49, profit= +2.07% after commissions.

Stock Trade Commentary

I would have loved to keep this position for a while; after all it is no secret that I am a fan of Rick McHardy CEO of Ex-Spartan Exploration and currently Spartan Oil. Spartan Exploration is the best stock I held in my portfolio and I have no doubt Rick will give a repeat performance with Spartan Oil. The sale today was not motivated by the measly 2% in profits; it was simply in reaction mainly to pessimism finally getting to me (I wish that happened 2 months ago). It’s time to trim the HELOC portfolio and swallow some losses, what to sell and when is my problem with selling right now. While I enjoy buying to my heart’s content when markets are dropping 300+ points, I am really annoyed with European dysfunctional politics not coming out with any solutions.  Following the fire sale this month, I still believe that some dividends stocks are worth a shot like NAE and DAY.  In my opinion, if you are a shareholder of STO, you are in good hands for the long run. I can’t wait to get this European debt drama behind us, either put up the money or just let them default, in both cases life will go on.

I was on call with Rick McHardy today to get his feel on STO and current events. Expect a summary of our discussion to be published soon.

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