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!
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3 comments:
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.
How 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.
I don't think I'll give you individual stock advice, good luck with those decisions.
Erik,
If they are still on the list I see no reason to sell. The real question is whether or not you re-balance them $-wise.
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