Archive | July, 2010

Top Three Winners and Losers

9 Jul

My successes have also been hindered with failures.  Highlighting my current winner and loser holdings as of July 9th:

  1. GQ $2050 +547%         /     BGEM ($390) -62% 
  2. JAZ.UN $409 +48%    /      NOT ($2087) -40%
  3. SBUX $1248 +33%      /      NM ($393) -25%

Why didn’t I hold it?

8 Jul

Impulsive sells back in June 29th to protect myself is definitely giving a run for my money!  I should have sold FSYS instead of AGU during that slump.  Now AGU is soaring while FSYS is slipping in the downward trend.  Even ECA is making a comeback. 

ANALYSIS of my PROBLEM
– Tend to sell stocks that have potential to make a comeback thus losing out on potential profits
– Tend to hold stocks that have no potential to make a comeback thus stuck with a big loss
– Commissions are $19.99 per trade at Itrade hindering my ability to capture gains or cut losses

SOLUTIONS to my PROBLEM
+ Do not let emotions play a part in making rash decisions
+ Once I buy a stock and if it dips below my buy in price, hold for one month and re-analyze it at a later stage to see if there are any improvements or not
+ Take profits when the stock has hit its peak; Buy in when stock is about to break out – Use Questrade for pro-active trading

PLAN of ACTION
1)  Itrade- No more buy/sell to this account anymore
2) Questrade Cash Margin- Profit whenever I can
3) Questrade TFSA-  Get rid of the losers; Buy a big name
4) Questrade RSP-  Sell when the opportunity arises

My First Bank Stock- BMO!

6 Jul

My parents opened my first savings account with BMO.  I’ve always used them till they started increasing their fees.  Tired of keeping a minimum of $1500 in my account to waive my monthly fees, I switched over to President’s Choice No Fee Chequing account.  My second brokerage account was with BMO Investorline.  But I’ve turned to alternatives to save on trading costs such as Scotia Itrade and Questrade. 

Yesterday, I plunged down 100 shares @ $57.50 on BMO.  By July 29th, there’ll be an ex-dividend.  I am hoping for a sharp increase in the share price and sell on its high and maybe even scoop up $70 dollars in dividend.  Let’s see if this will pay off!