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.

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