Scaling back on Rock Energy
Third short post summarizing some recent portfolio moves. First two are here and here.
Thoughts on Rock
Every once in a while you luck out and get in just ahead of the crowd. It doesn’t happen very often; usually you have to wait months before an idea begins to play out (ie. my extended comatose with Extendicare). So when it does happen quickly, you have to enjoy it.
I first bought Rock back in August in the $1.60’s. I added to it in the $1.80’s and again in the $1.90’s. Two months later its sitting at $3.35 and has been as high as $3.70. That’s quite a move.
Nevertheless, the biggest thing that has happened to the stock between then and now are people waking up to it being cheap (I am told that Keith Schaefer for one, a newsletter writer, has apparently said some positive things about the stock). And that gives me pause. Read more
Reminiscences of a Stockblogger 