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Southern Pacific Resource Corp STPJF

Southern Pacific Resource Corp. is a Canada-based company, which is engaged in the thermal production of heavy oil in Senlac, Saskatchewan on a property known as STP-Senlac, and thermal production of bitumen on a property located in the Athabasca region of Alberta known as STP-McKay, as well as exploration for and development of in-situ oil sands in the Athabasca region of Alberta. Its STP-McKay property consists of oil sands leases totaling approximately 37,760 acres. The Company’s operations also include Anzac, Hangingstone and Ells. The Company’s STP-McKay property is located approximately 45 kilometers northwest Ft. McMurray. The Anzac project covers approximately 117 kilometers of two-dimensional (2D) seismic. The Company owns 80% interest in Hangingstone project. The Ells project covers approximately 164 kilometers of two-dimensional (2D) seismic.


GREY:STPJF - Post by User

Comment by nikeherculeson Jan 31, 2014 1:04pm
299 Views
Post# 22158962

RE:RE:I'm out!

RE:RE:I'm out!
Monzie,

After hearing about flash crashes (and witnessing one hit my RBS preferreds), HFT stop loss hunter algorithms etc. etc. I keep a little post-it note of my "have-to-sell" price. If I see that price has been hit, I evaluate the trading (was it a sudden crash?) or part of an overall trend. 9 our of 10 times I sell. I don't want to be continually lowering my sell threshold as the SP sinks.

Take a look at what's going on with PRY. one guy in my office has been holding since it was over 2 bucks. It just keeps drifting lower and he always finds new reasons for not selling a single share (takeover, hope of increasing production etc. etc)

Also, I don't see a more sophisticated stop loss option in my waterhouse account.

I'm headed to the Bahamas tomorrow and I don't want to end up with a nasty surprise when I get back. Sure this thing might come back, and I hope for everyone's sake it does. For me, I've just had enough. If this thing gets back to 30 cents, I'd get another $50-$60k - but given the limited impact on the portfolio it's hardly worth the mental real estate STP is taking up.

As for the Desjardin target - https://finance.yahoo.com/marketpulse/STP.TO
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