Good Afternoon Ladies and Gentleman, Today I decided to take some profits on one of my positions as it took a bit of a run up today! I traded 650 shares of Birchcliff Energy (Canadian Natural Gas Producer).
Donèt get me wrong I love the company the management, the location, and some of the big shareholders… (Seymour Schulich). But nobody ever got hurt taking profits. I believe there is going to be lots of volatility within the canadian oil and gas producers and days like today I feel taking some profit may be wise. I fully intend to buy this back if it drops again (which I believe it will) But it not ièm happy with my profits.
I had 650 shares of $BIR.TO at an average price of $7.20 which was about $4,680. I sold 650 shares today at $8.00 which equals 5,200. This trade netted me $500 after commissions. I am very happy with an extra $500 and again if this drops back down I may acquire some more shares of this low cost producer. But only time will tell! Keep an eye out and maybe you can get in on the action too!