Portfolio Update: Selling Gear Energy, Buying Peyto Exploration

I realized two new transactions in my portfolio today. It has been a long time since I traded.

I took profits by selling my position in Gear Energy. The stock currently looks weak in the short term.

GXE StockCharts.com July 26

Source: StockCharts.com

The WTI/WCS differential has been collapsing for the last couple of days… Yet again. This explains most of the weakness seen in Canadian energy stocks. I will nonetheless buy Gear again soon.

I bought a small position in Peyto and kept the rest of the proceeds in cash.

PEY StockCharts.com July 26

Source: StockCharts.com

Disclosure: I am long PEY. Not for republication on Seeking Alpha.

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  1. Buying Peyto just seems tough right here.
    Many Canadian NG names have been going up for the last few days, on the hope of Shell finally making the announcement on their Kitimat LNG export facility, getting approval sometime next week.
    After that, it will be another 3 or 4 years if not longer before any LNG gets exported.
    So many of these NG names will come down again on the news. But hopefully some of these NG producers can survive long enough till NG prices improve in Canada.

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