Sunday, January 25, 2015

Recent Trade

Continuing with the theme of my most recent post, I also made a trade in my margin account.  On January 13, 2015, I purchased  600 shares of Sherritt International at $2.40 per share for a total cost of $1446.00 including commissions.

I have traded this stock twice in the past and was profitable on both trades. Although past performance does not guarantee future success, I have an exit strategy for this stock.  With the United States president talking recently in his State of the Union speech about having better relations with Cuba, this would be a positive for Sherritt International as they operate a mine in Cuba.  I wrote about a past position in Sherritt International which you can read about here.

Below is the "daily chart" of Sherritt International on Google Finance. This chart shows the stock price of Sherritt International from May 23, 2014 to Jan 23, 2015.

Click to Enlarge

Below is the 30 minute chart, courtesy of Google Finance.

Click to Enlarge

From viewing the 30 minute chart, we can see the stock is down 17.31% over the last 12 days. 

Disclosure:  This will not be a long term position

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should not be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

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