Friday, January 14, 2022

Sold 1/3rd of my CNQ position

 I bought a 2% position in CNQ 3 months ago, in the last month its up 20%.  Its starting to look parabolic:

I like this company and want to hold it for the next few years.

But I expect a correction around 2Q, which would hit oil.  CNQ is a high beta oil stock.   Short term, its way, way overbought.  And 2Q is only 10 weeks away, while the market is forward looking.

Sold 1/3rd of my position, @ CAD 64.44, profit 1.9K CAD or 29%.  Will sell more if it goes higher and my outlook stays the same.

Hope to buy it back cheaper later.

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