Encana- Natural Gas Play

21 Jun

Dissapointing results from Research in Motion lead to my ultimate decision to purchase Encana back in April 5, 2010.   I broke down after watching RIM from its high $77.00 falling to my buy in price of $67.00.  I hit the sell button, not wanting to lose my own capital.  Unrealized profits slip through my hands in a matter of days after the shortfall of the quarterly earning report.  Lesson learned.  If I had held on a few more days after I sold, I would have walked away with a few hundred.  But it’s not worth my time to fret and whine now.

My mentality of money sitting in my trading account is to BUY BUY BUY.  I always end up buying at its high.  With Encana, I bought it when it climbed 95 cents that very day.  I ended up buying at the end of the day.  Shortly after my purchase, the stock retreated below my buy in price.  This time, I bought half of ECA on margin and I was afraid of getting a margin call.  Luckily, it never came abouts.  After holding for a couple months, I’m at a profit of around $700. 

Here’s my dilemma, I don’t know when to let go of a stock when it’s climbing.  I keep on hoping it’ll still go up higher if I hold longer.  But many times, I’ve made bad decisions on not selling.  Yet, one time I did sell… that very same stock went on to climb another 200%.  Oh, the stock god does not love me at all.

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