Tag Archives: Baytex Energy Corp

Sell Target Hit for BTE.TO at $41.00

10 Jul

Baytex Energy Corp was my first trade at Virtual Brokers on Margin.

May 14:  100 @ $40.75
May 16:  100 @ $38.73 (averaged down)

BTE.TO was trading in a down trend when I first laid eyes on them.  I thought the price I paid for was their support, but I was wrong.  Once again, I bought into a stock that keeps going down.

Good thing about this stock is they paid a monthly dividend.  The time I held onto this stock, I have collected $88.00.

Reason why I set my target at $41.00?  Looking at the three month chart, $41 seems to be around their resistant point, before they take a nose dive below the $40s.  I might be wrong, but I do not want to hold this in the red again especially on Margin.

Sold-  July 10:  200 @ $41.00

Days held on Margin- 54 days

Profit after commissions $248.01

Dividend:  $88.00

Interest:  $47.05 (Estimation)

My 1 cent per share trades gave me the ability to keep my trade commissions down.  So I only paid $3.00 for three trades!  Regular commission at other brokerages would have been $4.95-29.00 per trade.  I saved so much money!!

After all said and done, I walk away with $288.96 in my pocket.  Not bad for a Margin swing trade, eh?

Added 100 @ $40.75/share of BTE.TO on Margin

9 May

With my new Virtual Brokers account up and running, I decided to take on a margin position for BTE.TO.  I am, of course, attracted to their monthly dividend of 22 cents per month with a yielding rate of 6.50%!  Their financial seems to be strong and it all checks out.

What is BTE.TO?  Their full name is Baytex Energy Corp.  Yes, it’s another oil/gas producer!  It is in a slump like all other companies in the sector.  That’s why I’m jumping in now than later.  Might as well catch the wave and ride it out.

Once my position in Suncor is in the positive territory, I sell out for a small profit and seek better alternatives to increase my portfolio.  I’ve been holding since mid-February 2013 and it’s been giving me nothing but losses up to my eyes.  We shall see how this plays out.

My Virtual Brokers account has been set up with my equities transferred from Questrade.  Questrade charged me $125 + $6.25 (GST) for transfer out fees.  Virtual Brokers will reimburse me $131.25 within 60 days.  But why so long?  To make sure, I stick around?

Side Notes:  Virtual Brokers does really charge you as they advertise!  No more paying extra ECN/Exchange fees that Questrade was charging from time to time!

Now I’m really considering transferring my RRSP over to Virtual Brokers now.  Here is my today’s trade on margin:

BAYTEX ENERGY CORP BUY CAD 100 $1.00 40.750 ($4,076.00)