Portfolio Update: Escaping Volatility

I was out of Gear Energy, as you know, and MEG Energy. My timing was, for once, good. I took profits.

On the other hand my timing on Granite Oil wasn’t good.

GXO StockCharts.com August 19

Source: StockCharts.com

I sold Granite at a rock bottom price. It was frustrating as the stock was at C$3 per share a month ago. The stock continued falling last week. Granite could be an interesting buy in the future. For now it simply didn’t make sense to keep the stock.

I still think MEG is an interesting play on Canadian heavy oil, despite having sold half of my position. The stock showed some strength at the end of last week. There is a future for MEG shareholders, especially with an activist investor such as Highfields Capital.

I started to rebuild my position in Gear after the fall last week.

I also bought Corridor Resources. The New Brunswick election in September is coming in a month and it’s currently projected to be much more closer than what’s reflected in Corridor’s share price. All hope is not lost for shale gas in New Brunswick. Stay tuned for an updated article on Corridor.

I also bought more Raging River. My portfolio is also overweight Raging River. For the sake of good timings, this stock is one of them. Stock is at a 6-year low and I am off only by about 10%. Not so bad.

Disclosure: I am long CDH, GXE, MEG, RRX. Not for republication on Seeking Alpha.

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