Stress Much?

So my resource intensive portfolio has been melting down of late. FR is now down 23%, WEE down 34%. It's been a pretty nasty couple of weeks.

I keep toying with the idea of selling, but I just feel like these prices are insanely low for these companies, so I'm not prepared to do so. Maybe I'm crazy, but I still think that despite falloff in resource prices, they're still companies with a lot of growth potential. I'm particularly annoyed because these are companies which didn't benefit all that much from price runup, but seem to be taking the full brunt of the downturn in resources.

Anyway, still in them. Don't really want to sell when they're down...not while I'm still confident in their futures.

On another note, I opened a position in Timminco (TSX:TIM) today. TIM makes solar grade silicon, and was a star performer on the TSX last year. This year it had been performing well, but its second quarter earnings missed expectations, and led to a 25% drop in value. While that's cause for worry, I read the earnings information, and it seems like it it's not all that bad. I don't think it fundamentally changes the bright future for the company, which is what its stock price is largely based on. Pretty much the whole drop was in overnight trading, and today it held steady with high volume, so I don't think I'm the only one who smells a deal.

BMO Option Position Closed, WEE Releases Earnings

Today, I closed my option position in BMO. I had 10 call contracts expiring in August which I'd bought when the price was 0.30, and sold today for 1.65, a 450% profit. After commission, that means I pocketed $1310.10. Not too shabby for such a small risk, but still a bit disappointing given that this time last week had them trading around 2.50. I'd intended to hold until tomorrow, since I expected the stock to peak on its dividend record day, but was just getting to jittery and worried about it.

Whatever, you win some, you lose some, and some...you just win less than you could have.

So that leaves me with the same stock holdings I've had for a while. BMO, FR, WEE. I doubled down on WEE yesterday, buying an additional 500 shares at 1.90.

Today, WEE released their 3rd quarter financials, and I'm not sure what to make of them. From all the news releases recently, I'd expected to see an increase in revenue, and there wasn't much of one. Their losses continue at much the same pace as they've been for the last year. One bright spot was the mention of their PowerWave's performance at boosting oil production. In one field where they are demoing the technology, production is now more than 80 barrels per day higher than when it was installed, and almost double what production forcasts would have expected without the PowerWave. So that bodes well for future sales.

The company remains in a great cash position, thanks to recent equity offerings, and 9 million brought in from exercised warrants this quarter. So there's no concern about the company going under for many years. So, while I was a little disappointed by the quarterly figures, I'm still liking the company as they've got a great technology, and enough money to get the product to market.