Archive | March, 2010

My Story about Brokerage Accounts

30 Mar

Online brokerages are readily there for anyone’s picking where vast money can be made if one pick the right stocks!.

Being a former client of TD Waterhouse and BMO Investorline paying $29 per trade can certainly cut into profits/increase losses since most of my investments were in small amounts.  In order to get a discounted rate of $9.99, you need at least a $100,000 portfolio.  I certainly do not have that kind of money!  Nor do I see myself building a portfolio of that size in the forseeable future.

Been content with BMO Investorline since 2005.  What really pissed me off was they denied me adding margin to my cash account.  So I made the switch to Scotia Itrade which offers an attractive $19.99 per trade plus they approved a margin account for me right away.  Fees are reduced to $9.99 per trade if you have a portfolio of at least $50,000.  That seems much reasonable for me.  I am happy with Scotia Itrade as they suit my needs.

My RRSP and TFSA accounts are with Questrade.  Their fees are $4.95 to $9.99 per trade.  Dirt cheap, it does its job sometimes!  My very first trade… I tried buying a stock that didn’t go through on Questrade.  I tried several times to no availability.  That ended up costing me unrealized profits from that stock.  Instead I bought into some stocks that didn’t perform as well.

126% Reached!

25 Mar

Great Quest Metals Ltd. has reached up to 126% gain.  The momentum of late is spectacular.  When will it end?  When will I pull the trigger!?  That has yet to be decided. 

I’ve been monitoring this penny stock since it sprung from 15 cents to 30 cents in six trading days.  It’s been holding strong around 30 cents for the past week, dipping at its day low around 28 cents, but always climbing up to 30 cents at close.  Today, it closed at 34 cents , up 11.5%. 

This will definitely be my Mexico fund, if all works out according my master plan. 

Side Note:  Now if my other losers will pick up the pace… BGEM and NOT is really hurting me. 

  1. BGEM was a pump and dump stock, I got caught in it simple as that.  I had a 100% gain… greed got the better of me as I held on wanting more only to watch it diminish half of the value I got in at.  Still hopeful that one day Title Sports Drink will be sitting in my supermarket selves. 
  2. NOT is definitely a hate/love stock for me.  Downside is $1200 in the hole currently.  Upside is their potential shock to its rightful price which is around $5 or $10 even for a NOT believer.  They say the Ring of Fire is a rare find… and we’re just at the beginning stages of finding out if this will be true or not.

Westshore Terminals Income Fund

24 Mar

Surfing on a lazy Tuesday night, I came across this Canadian financial blog:   http://www.investinthemarkets.com

They featured stocks I was interested in or holding at the moment with analytical viewpoint.  Today, I jumped the gun and used my margin account to get in on WTE.UN.  

Great financials for this company, little debt and good profit margin. 

It’s a short term play for me as I don’ t have any capital to hold this for long unless I sell one of my holdings.  Once I acheive a decent capital gain, I’ll sell for profit.  If I hold this till end of month, I’ll be getting a $40 distribution.

To Sell or Not to Sell

17 Mar

Life is a big gamble.  I bought Great Quest Metals on a whim.  Basing on the volume only, I made a leap of faith.  No forum or penny newsletter to guide me.  After getting into the stock, the volume died down and the stock traded downwards and sideways for two months.

GQ is starting to show some life in the past five trading days.  Jumping from 15 cents to 25 cents.

5,000 0.15 0.00 0.255 +0.035 +15.91% 750.00 1275.00 +525.00 +70.00%

I’m worried about the momentum and not cashing out at the right time.  I usually get burnt in the end.  Debating now whether I should cash out or wait for a bigger pay out!

Note:  Knowing my trading style, I’ll probably hold on!  Update:  I sold half of my position at 35 cents on April 1st.  I am preserving my capital and locked in a gain of $125.  Letting the rest of my gains ride out the turbulent waters in the market.

4/17 Losers

5 Mar

Over the past year, I’ve been very concentrated on my stock portfolio.  Even borrowing money to accumulate more stocks in hopes of hitting a runaway stock.

I have my highs and lows.  Some picks should have been let go immediately but I have a hard time letting go.  So I’m stuck with 4/17 losers.  I will hold over a year and evaluate my situation.

  1. NOT:       –  22.91%   Update: April 6th -8.39%
  2. BGEM:    – 39.06%   Update: April 6th -56.25%
  3. NM:         –   5.13%    Update: April 6th +1.42%
  4. BA.UN:   –  9.91%    Update: April 6th  -9.67%

My picks are all over the map.  I have stakes in risky penny stocks, unit trusts, and blue chips.