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.
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 😛
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.