Thursday, March 14, 2013

Failed to buy CET

In the interest of full disclosure, as I type this I have a couple of active buy orders for CET (Cathedral Energy Services) in play. The last trade was for $4.15. I've put in my order at $4.14. I'll post whether I'm successful or not at the end of the day. (I wasn't.)

I believe CET's ex-dividend date is March 26th. If you are an  owner of record of CET stock on that day you will receive the 7.5-cent dividend in mid-April. For that reason, I'll still be pursing the purchase of CET for the next few days.

[The next day.] The stock ended the first day with no momentum, I decided that my bid of the day before was now too high. As it turned out, I was right. CET continued to lose value. It dropped to about $3.97 in early morning trading. I thought to myself, this stock just keeps falling; It fails to gain traction.

But, it gained enough traction to prevent it from dropping the penny necessary to fill my purchase order. I remained a buyer with no matching seller all day.

Oh well, there's still Monday.

Today was a day for appreciating the strengths of a mixed portfolio. I ended the day with a four digit gain thanks, in part, to PennWest. It was a major gainer with a run up of 5.22 percent to close the day.

Addendum:

It is now more than a week later. I failed to buy the shares of CET. I was just trying to hard to get a bargain. Today CET was trading around $4.41. It, and my share of PWT that I am always bad-mouthing, are not just holding up but climbing. They are helping to soften the daily losses I have been suffering. This is rather ironic, yes?

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