Flipping Stocks for Capital Gains

Just a short post on 3 speculative stocks I bought yesterday. My intent is to hold short term and hopefully flip them for capital gains.

I bought PEY.TO, GUY.TO and EFR.TO

Peyto Exploration

Price Paid: 1000 shares @ $4.30

52 week high = $12.44

I don't know what's going to get these Canadian energy names going but the upside potential of these positions can be huge. Almost a triple to get back to its high for the year. Oil is trending up but investors seem to be just throwing these stocks away.

Big bump up today of 6% on high volume is why I jumped in to establish a position. Double the avg. daily volume and comes with a 6% dividend.

Might have to be patient with this stock but I like the potential here. If it goes down 10% from here I'll let it go.

Energy Fuels

Price Paid: 1600 shares @ $2.57

52 week high = $5.38

Again, a double from here just to get back to it's high for the year. Uranium in the news a lot after it was announced that the U.S. will no longer restrict imports of uranium into the country. Maybe this will force local producers like EFR to get their costs of production down and get competitive in the uranium space.

This is a pure gamble on my part based on how beaten down this stock has been. It sold off from $3.98 last Thursday which was quite the dramatic drop. I believe it was a knee jerk reaction and am looking for it to regain that back on a bounce.

If it drops a further 10% from here I'll let it go.

Guyana Goldfields

Price Paid: 4000 shares @ $1.26

52 week high = $4.70

A gold stock lagging an uptrend sector. The best time to buy a stock is when it's down like this (my opinion).

It would have to triple in price just to get back to it's 52 week high. That is an amazing amount of profit potential and what I look for in trying to flip a stock.

Will it get there? Dunno. It is lagging the sector, but just announced positive results and the market seemed to like it. I would sell at $2 if it got there and let it go if it dropped back to 90 cents.

Thoughts on the Trading Day

All the positions lost money for me today. Still, I'm glad I'm in at what I consider great prices based on market action.

They are all trending up on higher than average volume and moving off their bases. I am only looking to hold them until September - MAX!

I hope NOT to have to sell sooner.

This is no different than one going to a yard sale and buying some tools, taking them home and selling them the following weekend for more than you paid for.

I'm buying these stocks as gambling positions only. This is NOT investing. This is buying and selling for capital gains.

I am hoping to not get BURNT by the market.

Wish me luck!

Do you flip stocks for capital gain?