Archive | 2.33

Hooked, Lined, and Sinkered

20 Apr

Wiggle wiggle!

I’m chasing Apple the wrong way!!  This morning, Apple seemed to be performing well heading above my latest buy in price of $587.00.  By mid-morning, it started its downward spiral AGAIN.  I had some money in my QT RRSP account screaming for some attention.  I decided to averaged down another 10 shares @ $581.00 in the morning which is a big mistake.  I was careless and impatient.. hooked, lined and sinkered!

One of my mottos is not to buy in the morning, always buy in the afternoon when things have settled down. 

Today Apple closed at $572.98/share.  It was another $8.02/share drop from my buy in price.  Am I worried?  Nah, I’ll just sleep on this shares for a long time coming since it’s in my RRSP account.

As for my other 30 shares of Apple in my QT Margin account, I got an email from Questrade stating:

“Please be advised that the margin rate on common shares of Apple Inc. (AAPL) is increasing from 30% to 40% effective Monday, April 23rd, 2012. Please review your current positions to ensure that your account does not enter a margin deficiency due to this change.

It is your responsibility to monitor your account and your margin, and to deposit sufficient funds or sell sufficient positions to remain in good standing. If your account becomes under-margined, we will issue a margin call and may sell securities to satisfy the shortage.

We retain the right to require additional margin at any time we consider necessary. “

I just might get a margin call on my Apple shares if the price keeps on falling like today.  I am hoping for a green Monday.  Wish me luck!