My plan to buy TRE and hold for the takeover offer blew up on me. Sure, things started out well enough. I bought at 10.11 on friday. Watched it go to 10.85 before the close. Sweet. I was all pumped to have the weekend over with so I can get back to work, ignore my responsibilites and continue to watch TRE rocket upward long and strong like an erection on viagra. But then... disaster. The fuckers that were supposed to buy out TRE backed out of the deal. The stock plunged downward. 9.60, 9.30, 8.90, 8.50, 8.30, 8.10. I felt sick to my fucking stomach.
I wasn't so much upset that I had then lost almost $500 (on paper), as much as I was pissed that I wouldn't have the pleasant distraction of waiting for a take out bid while bored out of my fucking skull at work. Anyway, the company is very profitable one and probably undervalued when compared to its peers so I will probably hold on and set a stop/loss between 8.25 and 8.50 and hope it never hits. Tomorrow may probably be another shit day for TRE, but I can always hope for a rebound. Oh, and by the way, TRE closed at 9.05, so not as bad as it initially looked, but still a kick in the nuts, for sure.
QC today went down another 8 cents. WIN up 12 cents. NEM up 11 and GDU.UN up 5.
Next post will be something more entertaining, I promise (hope).