ENRJ, XCO Shares Positions

One purpose of my account with the no-fee brokerage Robinhood is to try out things I otherwise would never try.

Example: I never do story stocks. I am not a trader who puts much store by the fundamentals. Me and Jim Cramer would not get along. Warren Buffett and I would not be best of buds. This is the simple reality.

And yet, today, I have entered two stock positions on penny stocks based on a story told by Investopedia

The story, “Top 4 Oil and Gas Penny Stocks for 2017) is a tale of four oil patch stocks that have fallen on hard times in the fossil fuels price downturn: ENRJ, XCO, VNR and PTRC.

VNR on the Toronto Exchange and PTRC on the Pink Sheets aren’t traded by Robinhood. I opened positions on the other two symbols: ENRJ and XCO. Neither has a rating from Zacks Investment Research. There’s very little data available except for the price history, which shows that they were priced at $80 and $40, respectively, back in the day.

It’s a flyer, not a reasoned trade, except foe the story and the chart.

The last time I did something like this was in the depths of the Great Recession, when I bought into Fannie Mae for pennies, and ended up with several hundred percent in profit.

My motto for Private Trader is this: “Risk is good, as long as you know the odds.” I have no idea of the odds for these trades, so I am not being true to myself in placing them. But the amounts are small, so why not have some fun?

By Tim Bovee, Portland, Oregon, March 2, 2017

 

One thought on “ENRJ, XCO Shares Positions

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s