Sort of.
Last Friday morning I sold out our entire position in Daylight Energy.
I had been trading in and out of that company for several months and though we made a few small gains here and there, it really wasn't going anywhere. And there are some stocks I just don't like holding going into a long weekend. Daylight was one them.
Yesterday China Petrochemical (Sinopec) announced they were buying Daylight Energy for $2.2 billion (CAD). Shares of the stock doubled this morning, hitting a high of $9.72.
Daylight is currently trading at $9.66 and my average price per share was $4.55. Had I held on 'til this morning, my gain would have been $5.11 per share x 6000 shares = $30,660.
That's probably not the worst trade I've ever made but I can't lie - it still makes me a bit nauseous thinking about it. Thirty thousand bucks would cover our living expenses for a year. And it would've bought a lot of Tillamook cheese.
On the bright side, Alaris Royalty Corp (our largest holding) announced a 12% dividend increase this morning. Which is kinda like getting a pay raise for doing absolutely nothing. This company has been an excellent investment, with three div hikes over the past 18 months, in a crappy economy.
Still...that $30 grand profit from Daylight would have been nice ... :(
Totally off topic - only 8 more sleeps til we head south for the winter.
OUCH! Been there done that. I won't tell the story about how 400 shares of Apple that I bought at $22.00 were found missing when I went to sell them at $360.00 - did I mention that was 400 shares - and it peaked at $400 not too long ago - of course I would have been out at $360. and probably bemoaning the early sell - oh well. But, truly I feel and know you pain.
And here is the real kicker you will continue to watch that stock rise and a little pit in your stomach will churn for some time to come.
PS - Apple stock remains on my opening Internet page listing stocks I watch.
Posted by: john | October 11, 2011 at 02:26 PM
Steve says you didn't lose it...you just didn't earn it!! Ahh, the voice of reason...not very comforting :)
Posted by: Laurie | October 11, 2011 at 03:52 PM
Senor C - actually I'd LOVE to hear the story of how your Apple shares went missing. What the heck? Was it with a shady broker? Muy loco!
Posted by: kelsi | October 11, 2011 at 06:34 PM
Tell Steve I have a retort - but this is a family blog so I can't print it.
Miss you guys! Send me pics of your little monsters Halloween costumes...
Posted by: kelsi | October 11, 2011 at 06:37 PM
Hey guys, I like the new look at the top of your blog. See ya soon.
Posted by: Mavey | October 12, 2011 at 12:53 AM
Muchas gracias, Mavey
I took that pic in San Carlos, Sonora when we went fishing in the Sea of Cortez and your son caught a squillion fish.
Nos vemos esta tarde!
Posted by: kelsi | October 12, 2011 at 06:20 AM
OMG! $30K!! That would keep me in bed for the day! Ouch! But yes, we can all recount stories of missed opportunity. I once scoffed at a neighboring lot for sale for $40K that later sold for $160K. I didn't think it was big enough to build a house on. Well it was, and now that house is invading our view!
Posted by: Croft | October 12, 2011 at 09:29 AM
MexiCroft - yeah, we've all had our share of 'the one that got away', hey?
And what's up with the neighbours blocking your view? Want me to send the deer back over to take care of them?
Posted by: kelsi | October 13, 2011 at 06:48 AM
yes, most of us have been in the same position, but $30 grand in a day, I would be in a terrible mood.
Posted by: les | November 02, 2011 at 07:01 PM