Archive | August, 2010

Time to Assess

30 Aug

My earning potential at work has always been a challenge for me.  The only reason I am able to survive are my supportive parents whom I still live with.  They allow me to stay at home for free.  Of course, I try to pinch in monthly to help out around the house.  I am not a complete stinge!  For the past while, I’ve been on a lock down.  Not buying things that are unneccessary.  Even as I am in the market for a laptop, I put it off.  I don’t want to pay so much for one.

If I were to be renting out, I’d be living from pay check to pay check.  Most likely, I’ll be unable to take vacations and save much of what I earn as well.  For now, I am content with my situation for the time being, but I know I’m getting up in that age where I eventually have to get my own life.

What I really should focus now is to either liquidate my stocks to pay off the debt I’ve accumulated through stock purchases or look into other investments such as property for rental.  Need more ways to make money too!  I only work once a week at my part-time job thus my pocket money ain’t as big as it used to be.

Paying American

27 Aug

The decisions to make purchases for American stocks are proving to be costly in the short term.  The currency exchange flactuates too much between the time I buy into a stock and want to sell…  Even though I buy an American stock at its lows, the Canadian dollar seems to be trading a lower price as well thus making me paying more for the price.  Then for the next few days, the stock goes up along with the Canadian dollar thus getting back less money.  That totally cuts my profit not in a good way. 

It’s almost end of the month.  Yet I’m still holding onto Visa.  I really thought that Visa would really just take off after my buy in price of $71.90.  Well it did for the matter of fact to $76.50 but the Canadian dollar went up cutting all most of my profits.  After that run, it took a beating right now it’s at below my buy in price.  So maybe I’ll hold the stock till December when the busy shopping season sets in.  One of my more recent purchases is Cisco, it’s the same deal like Visa.  So right now, I’m just waiting for them to rise above my buy in price and I’ll make my exit.

Seeing Red

25 Aug

What an awful day!!  My whole portfolio was bleeding as the market sucked the life out of my stocks.  All that time of gains can be wiped out in a single bad bay crash.  It’s always hard to time when to sell.  Just be ready to pull the trigger! 

BMO in particular took a rather big hit as they didn’t meet analyst’s expectations.  It took a big hit from a $59.00 to $55.50 in a single day drop.  BMO was a big red alert as it drop to a dangerous 6% loss in my RSP account.  I know BMO will eventually counter back.  So I just left it as is. 

My single day gain in Agrium was taken away yesterday.  Today, it dropped another $2 basis points in early morning trading, but since then, AGU has been climbing back to its start off price.  What an excellent time to buy… if I only had more money.  But anyways, I should have sold out while I was up $169!!  Now I sit at a loss… just waiting for the bounce back.

Taking Little Profits

23 Aug

In early July 2010, I opened a Questrade Cash Margin account to generate short term profit taking.  Questrade is excellent for trading as they are known for their low commission costs from $4.95-9.95.  Tired of my buy and hold strategy, I wanted to be more pro-active in managing my gains instead of watching them get wiped out again. 

I started off with $3750.  I’ve used the rest on margin as I did not have enough money to buy most stocks out there in board lots.  My first successful trade was with BMO ended up taking $522.28.  Next I put down some money on Rogers Communication Inc, I might have sold it a little prematurely but I locked in a gain of $190.10.  Currently, I’m holding Agrium.  So far, it has climb upwards of $169.00. 

The only bad trade I made was with a more junior gold stock named SGR.  I might have been a little too impatient seeing that it dropped 10 cents below my buy in price.  I didn’t want to watch it spiral down the path of destruction.  So it got cut off with a loss of $29.90.  But this one has gone up and down around my buy in price.  I’m not regretting my decision at all. 

So taking little profits isn’t too bad.  I’ve actually locked in $682.98 for about just 7 weeks of trading.  Not bad from my old strategy as I’m still holding out hope for some to recover.

Understanding the Downside

15 Aug

When a stock goes on an upside streak, there’s bound to be a set back.  You never know exactly when it’s coming, but if you’re in the money… best to break the ties with the stock and take the extra cash you have on hand at profit.  That’s what I did for FSYS.  After watching it go down from a high of $37.50, I finally sold out at $32.50 with a measly $547.10 gain.  $5 per share lost just like that in a matter of a few trading days.  I kept on telling myself it’ll go up the next day… but no, it kept on falling deeper and deeper.

Venturing to other stocks, I bought 200 shares of Cisco (CSCO) at $21.41.  It’s taken a good hit in the last couple trading days.  I think it has potential to move in the upward trend in the next few days.  But I’m not that good at reading technical charts.

From my RSP Questrade Account, I’ve gotten frustrated at the stocks I was holding a numerous months.  I finally decided to do a little summer cleaning by selling the following:

BA.UN 279.27 LOSS
NOT 50.34 LOSS
SU 202.10 GAIN

Overall, I had a loss of $127.51 with my sell on Friday the 13th in my RSP account.  I decided to keep my UC penny stock.  Now I have $6595.10 cash to buy a good healthy dividend stock.  I may rebuy BMO again as it has dropped to $59.09 recently.  This will be a longer term hold.  This time around I will do more research to what I’ll be buying.

700% Reached for Great Quest Metals!

10 Aug

Foresight would have been crucial in capturing that blossoming rare penny stock.  Risks could turn into wonderful fortunes that’s only if you really have guts for it.  What made me buy 5000 shares at 15 cents of GQ that day?  I simply wanted to see what a penny stock can do.  GQ by far has been a diamond in the rough that I managed to catch in its infancy!  There were several chances where I could have loaded on more shares after the initial buy.  GQ traded sideways and downwards for the next couple months.  I was dissapointed… looking for a quick rise at that time.  But patience had paid off.  Covering my ass, I stupidly let go half of my shares at 35 cents… scared from past experience.  Yet GQ keep on climbing after.  Today, it sits at $1. 20.

Imagine if I had really put down $15,000 on a 15 cent stock… which would equate to $120,000 present value!  I am only dreaming as I would never really plot down that much on a risky penny stock.  But if I had the foresight… I would be sitting in a very large sum!

Question now, when will GQ lose its momentum?  Will it just fall back to pennies after a spectacular run?  You never know… always be on the button!

Climbing out of the hole!

5 Aug
  1. My buy in price for FSYS was $28.70 USD against weak Canadian dollar.  When it took a tumble, I tried to buy another 100 shares @ $26.25, but only 5 shares got bought and I quickly cancelled the rest of the order.  Days after, the stock went on a free fall down to low of $24.75.  Since then it had dragged on for a bit.  A long ride up back to my buy in price.  Today, they released stellar earnings for FSYS.  Good news for me.  The share price jumped $5.25, ending up at $34.83 USD against strong Canadian dollar meaning I’m losing out on the currency conversion!  Still an amazing feat for a one day gainer!
  2. Long time holder of NOT owning 2600 shares has given me a sore red eye for over the past half year.  Today, NOT gained 20 cents after a couple months trading at its low.  Finally see the daylight of this thing.  I still need another 58 cents to recoup my losses.  Waiting for big news, NOT is waiting for a good launch!! 

Roger That!

5 Aug

Slogan:  “Rogers Communications Inc. is a leading provider of Wireless, Digital Cable TV, High Speed Internet and Home Phone services to consumers and businesses in Canada.” 

Who doesn’t have a cell phone in this day and age is living in a bubble.  Even me, one who never chats on the phone, have gotten a cell phone with Fido.  I got a prepaid service with Fido at $20 plus taxes.  It services my needs.  Rogers also owns Fido which is a major player in the wireless industry in Canada.

Aug 3rd, I picked up 200 shares of RCI.B at $36.00.  Dividends are coming up on September 9th.  I can only see accumulation from here on out.  Up and down the market goes, can you ride the waves of this unruly waters? 

Previous pick for BMO also had a nice run up to their dividend record date.  I sold out before collecting the dividend because the stock has reached its pinnacle stage.