I bought 1000 shares of SPE today at 3.30 in my non-reg account.
Stock Trade Commentary
I have been looking to get into SPE for some time now but not willing to pay the premium for it even though it deserves it.Yesterday, I left a stink bid at 3.30 and how I was surprised that someone in a hurry to get out sold his shares at a discount. The stock bounced back to 3.45 for a quick +4% had I decided to sell. However, the plan is to buy more of this stock at 3.30 or less if I get the chance. This is a light oil company with 2 upcoming HZ Cardium well results. We saw what those results did to GPX a few days ago. I will be featuring SPE as a stock pick soon.
After having sold several stocks in the past week, the reserves are being redeployed into new opportunities. I just need to take the time to redeploy the cash slowly and with good entry prices given the volatility earnings can trigger on any given day.
How about you, did you pick up any stocks yesterday?
