Hated to sell 1,500 $CVE Cenovus Energy in my RIF today at $44.50 😞😬😬 but best I did 👍🏻 Why????? 1. Lock in some profit. In my RIF, I had bought & sold 2,700 CVE for a 22K gain Still holding 1,300 shares at an average cost of $31.51 🫣 2. Like Portfolio Manager Eric Nuttell of Nine. Point Energy Fund, I wanted to keep some dry powder in case we get a dip in the sector. This sale drops my Energy weighting to 52% & raises my Cash allocation to 11%. I will hopefully continue to book a bit of Energy gains if/when prices perk up a bit. 3. As a retiree, I thought it prudent to increase my Cash💰 Wedge to cover my scheduled 2027 RIF withdrawals. With the cash I now have on hand, I will not need to sell stock if we get a major draw down over the next 15 months 👍🏻 Although I hated to sell Cenovus, it’s a CMA (Cover My Ass) move 🤡🌎 If I was 56 instead of 66 years of age, it is highly unlikely I‘d sell this much of a Conviction Buy 😬But such is life. Emotions need to be SET ASIDE & laid out retirement plans followed. Anyone else forcing themselves to book gains or raise cash 💲 to be prudent? I just sense too many headwinds on the horizon 🫣 Energy makes all of Canada 🇨🇦 stronger & more independent 💥💥
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12 Comments
Mason Nordli
@mnordli22 · 29d
Yes I booked profits on 200 shares of WCP and rotate the profits into natural gas stocks like EQT and PEY
Julie
@livingmylife · 28d
Why sell CVE and not CJ or White Cap resources? Curious?
Gracie
@gracie1213 · 29d
I also sold most of my cve @45.10 and took 108% profit. I’m still learning to take profits once in a while. I’ll rebuy it when it goes down. 😅 same as what I did to my ATH. I just bought some back. Sold it for profits and reinvesting somewhere else.
SJ R
@sjeanrich · 29d
Taking profit is never a bad thing! The fact you had profit at all is worth celebrating. Plus you’re still in CVE - also smart. I’m focusing on ENB on this dip, with their solid dividend, cuz Canadian Energy will alway be in the portfolio- long term.
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