My new stock?
EGY: This has pretty much been on the list since I started a year ago. It is down about 20 to 25% in the past 4 months, which makes it a blue light special for me. They are just commencing production on a new oil well (VAALCO Energy Announces Beginning of Avouma Production).
This additional production has analysts projecting 90 cents a share in 2007 versus the 74 cents in 2006. 90 cents a share for $6.42 (my price) seemed like a steal. EGY gets most of its oil of the coast of Gabon, West Africa. I have to admit I know nothing about that country. The purchase of EGY will make me reconsider whether I will hold PTEN when it comes up at end of February. Not sure how concentrated I should be in energy (read Jubak: Continue this article).Besides the excitement of a new stock, it was a pretty ho-hum day for my portfolio. Down about a tenth of a percent. PNCL had the big news, signing a deal with CAL (Pinnacle, Continental in 10-year capacity purchase pact). The PNCL 2.7% bump means they're up 172% for me now. Last I looked they're still on top 25 list over 100m. We'll see where they are in May when I have held for a year. Sure am glad I did not succumb to my own words: ( high-flier link).
TGIS (Thank God It's Saturday) dropped about 4%. I assume the drop was concern over the internal stock option review, not the revenue announcement. Oh well.
I almost sold my sidecar holding in ALDA. I have made a quick 10%+. But I will be greedy and go for just a bit more.
Is everyone as happy as I am about the Colts? I also won $325 in football square with the halftime score! Woo-hoo, lunch is on me tomorrow!
Interesting you bought EGY -- I am coming up on my one year and I bought EGY 1 year ago. Now the question is for me to keep it or drop it ?? This is an issue I am facing with quite a few stocks -- KFY / KSWS / FCX and VPHM are all still in the MFI top 50.
ReplyDeleteHow are you handling these ? Any ideas ? FCX and EGY are about even, I like EGY for the reasons you mention - not so sure about FCX, the big copper run seems to be over, but they have a ton of cash. VPHM is a 50% gainer - I think I am going to sell on the one year. KFY and KSWS are 10 and 17% gainers - not sure on those yet ??
I will be keeping a number of my stocks upon renewal, probably close to half. I will rebalance my share count so my $ holdings are equal going forward. So I will sell some PNCL, but buy shares of PTEN.
ReplyDeleteI don't think I'll give you individual stock advice, good luck with those decisions.
Erik,
ReplyDeleteIf they are still on the list I see no reason to sell. The real question is whether or not you re-balance them $-wise.