Monday, October 21, 2013

Cathedral Energy investment well into the black

Some months ago I talked about investing in Cathedral Energy (CET). One reader also took the plunge along with me while others were critical of my move. They were right. The stock collapsed. I bought more, lots more and now the stock has recovered. My profits are now well into four digit territory and I've enjoyed a nice dividend while waiting for the turn around. And now, I'm right. :-)

With a jump of more than four percent today, I think it is time to take some profits. The stock purchased first will be the stock dropped from my portfolio. That stock was the most expensive. The stock I bought at the bottom of the trough, I'll keep. I have a number of RSP self-directed accounts so it is easy to know which stocks were bought when and for how much.

If CET continues to climb, I'll do wonderfully with the stock I continued to hold. If it does a U-turn and crashed, I may be able to stay in the black while continuing to enjoy a better than five percent dividend. It has all the earmarks of a win-win situation.

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