While everything was up…

25 Apr

IPL.UN stumbled along with TRP which I sold out yesterday.

Today, I sold IPL.UN 340 shares @ $19.00 in fear that it will drop even further below buy in price of $18.90.  However, I got caught up in the early morning sell off.  IPL.UN seem to recover shortly after closing at end of the day:  $19.15 per share.

The funds from a recent sale of Fund ING Streetwise Fund finally arrived into my RRSP Questrade account.  If only the funds had shown up earlier, I might have averaged further down on Apple at the price of $560.00 of yesterday.

Now, I have quite a bit of cash sitting idle in my RRSP and TFSA accounts.  Everything seemed to surge after Apple’s record breaking earnings report.  So I don’t think this is a good time to buy into the market.  I’ll sit and wait for the right opportunity.

One stock that is riding at its 52 week low is Chesapeake Energy Corporation (NYSE:CHK).  EPS is decent, PE ratio is low meaning there might be some value to it.  They do shell out a small dividend of 9 cents per quarter.  I might just pick up a couple hundred shares and see if this will ride back up into the 20s.

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2 Responses to “While everything was up…”

  1. Alex April 25, 2012 at 2.33 #

    be careful with Chesapeake. their CEO was just involved in some strange news where he was using his own stake of the company’s wells/leases as collateral to borrow money. it was on the news last week i think. i like SLB in the E&P areas. its also been beaten down but i havent been brave enough to dally in these names 😛

    • agentfang April 26, 2012 at 2.33 #

      Yes, it’s on a watch list for me. I will keep an eye on it… scandals will bring a stock down but it may bounce right back up if everything clears up.

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