Retirement Income

Stocks and Options

October 7th, 2008 at 3:37 pm

Sold ENTERRA ENERGY TRUST (ENT)

Today I sold 500 ENT shares for a net deposit of $728.80 in my taxable account.  That is an average of about 1.46 after commissions.  My basis was somewhere above 8 per share excluding dividends.

I am starting to capitulate in my taxable account because of the continuing market downturn and the resulting margin calls.  I satisfied another margin call today for $6100.  I am just getting tired of it.

I still hold 1200 ENT in various IRA accounts.  The stock is not currently option-able and suspended paying dividends some time ago.  I had been holding onto ENT with the belief that this oil and gas trust would resume paying dividends and possibly become option-able once again.  I would probably have continued to hold ENT if I did not want to raise cash in my taxable account.  Now that I have sold these shares though I am considering selling out all of my shares in the IRA accounts also.

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