New Buy: SU.TO 300 shares @ $32.30

8 Feb

I’m hoping Suncor will bounce back up by the time I come back from my Mediterranean cruise.  Yes, they did miss earnings thus the dip, but overall they are a solid company that will generate tons of oil for us down the road.

I just needed to have a last hurrah buy before I leave for a good two weeks!

I took advantage of my MBNA Smart Cash 0% offering cash balance transfer.  This 0% financing is good till September 2013, after that regular interests will apply.  I decided to take out $8000 to play with instead of using my margin account that charges 6.25%.  With this $8000 transfer to my margin account, I incurred a 1% processing fee from MBNA which is minimal compared to the length of my “loan”.  Of course, I plan to swing trade with this money and try to come out ahead in the course of seven months to make my “loan” worth while.  After my 0% is up, I will sell my stock and pay back the loan in full.

Happy Chinese New Year.  Enjoy family day too!

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2 Responses to “New Buy: SU.TO 300 shares @ $32.30”

  1. Alex Yang (@yyangalex) February 10, 2013 at 2.33 #

    have fun on vacation!

  2. Liquid February 11, 2013 at 2.33 #

    Nice buy. I have SU too 😀 Have a nice trip.

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