Tag Archives: NOT

Pennies Mistake

5 Apr

Reminiscing… Serious?  Seriously?  This is the first time I have actually tallied up my penny stock losses.  OK, I lost like $6467.37 by trading penny stocks between 2010-2011!!  I’m so undisciplined.   By not keeping  a steady track record of my gains/losses in previous years, it’s all becoming a blur.

What did I really gain by playing with risky penny stocks?  Only one prevailed while others fell flat on their faces.  Even my beloved GQ is stumbling these days due to rebels in Mali where our precious phosphate is being mined.  So really, I’m at a loss with my overall penny trading career.

NOT:  -$3519.99  I did not take my $900 profit off the table.
EPO:  -$1009.40  Never listen to thy brother.
UC:  -$1001.29  Kept on adding more shares and heartache into this dead gold mine.
BGEM:  -$596.79  100% gain, yet I was greedy to only end up with nothing.
RUN:  -$339.90  I have no idea why I bought into this one, wishful thinking?

This is a dark reminder for myself to not go to this destructive path again.  The risks I took was in over my head.  Goes to show that we can’t be right all the time.


Tax Time!

21 Mar

Remember to file your taxes by April 30, 2012 for the year 2011.

I have been doing my own taxes since 2002, that’s when I started my first job.  My parent’s friend who is also our neighbor always did our taxes.  Since I didn’t want him to find out my pathetic yearly salary at that time, I filed my taxes online with Quicktax aka Turbotax for like $12.95.  But every year they would increase their price for their online version.  A standard return for Turbotax nowadays is going for $17.99 plus tax.  One year I prepaid a cheaper version Ufile, but I found out that I didn’t like their calculations and went back to Quicktax.  I paid twice as much.  What a waste of money.  So I say, “screw that!”

Studio Tax is a free downloadable windows based program for Canadians to file their taxes online.  Of course, this isn’t the most user friendly guide like other tax programs that charges a fee.  It’s pretty basic, to the point, like an online paper version that CRA makes you fill out by hand.  They do have a Wizard that you go through like a questionnaire.  After you finish up your return, you can NETFILE with CRA to get a quicker refund only if you don’t owe money and save paper  🙂

My capital gain from 2011 is only at $2945.65 with 32 trades… made a lot of mistakes in 2011.  This year I promise to be more disciplined.  It’s not bad considering I took a big loss in RIM $1489.90 and NOT $3519.99, and some other stocks.  I did a preliminary test run of my tax return.  Looks like I’ll be getting $3k back only cause I funneled a lot into my RRSP contributions.  I still haven’t received my T3s.  They won’t come till early April.  Can’t wait to receive my refund!!

Re-Cap of September Trades

14 Oct
CLF 200 15,854.90 16,594.73 739.83 4.67%
POT 100 5,165.00 5,705.05 540.05 10.46%
V 100 6,466.00 8,516.44 2,050.44 31.71%
LIF.UN 200 7,094.95 7,595.05 500.1 7.05%
PEP 100 6,054.95 6,180.05 125.1 2.07%
XRE 140 2,064.25 2,079.65 15.4 0.75%
NOT 2000 4,340.00 820.01 (3,519.99) -81.11%
    47,040.05 47,490.98 450.93 0.96%

Overall, I did well in my trades.  However, I grew tired of a long standing eye sore which was NOT.  When it hit bottom at 42 cents, I hit the sell button.  It since has gone up to 52 cents.  Due to my impatience, I lost out a couple hundred bucks.  All those years of holding that stock came to nothing really.  False hopes.  I used CLF to regain recoup my losses in NOT. 

NOT and CLF had a history back in the day when both were trying to take over a smaller mining company in the Ring of Fire up in Ontario.  Phospate was the talk of the town.  CLF won the battle and NOT ultimately failed to deliver while CLF soared as a billion dollar company.  I’ve traded CLF this past year and managed to make some decent gain of about $3250 in profits.

Selling at the Right Time

13 Sep

When Labrador Iron Ore Royalty Corporation had a 2 for 1 stock split, I missed my opportunity to sell at its 52 week high of $41.30.  The months that followed fell well below my buy in price of $35.45.  I watched a good $1170 in profits slip from my grasp in an instant.  That was the old me holding out for more gains only to get screwed in the end.

On Friday Sept 9th, I had a limit sell on LIF.UN for $38.00.  It hit my mark and bam, it sold at day’s high.  I pulled in $510.00 in profits, half of what could have been.  But I saw the resistance and I had to make a move.  Come Monday Sept 12th, LIF.UN took more than dollar spill from my sell price.  Today, it is trading at $36.66.

Cheers to my September sells, I’ve embarked the course of reducing stocks in my portfolio.  So far I’ve realized $3,830.42 in profits.  But I still have my long standing eye sore Noront at a 77% loss which equals to $3310.  If I do sell NOT, all my profits will be whipped out. 

Word of advice:  Best to move on and sell a dying stock while you still can… if not, you’ll just hold them till you see pennies.  Keep your losses at a minimum.  Rule of thumb is 8%. 

At the moment, I have quite a few stocks with losses of more than 8%.  Shows you that I hold out hope for an upside… but that doesn’t always come true.  So thread carefully in the world of the stock market.


Selling Spree

9 Mar

Rule#1:  Never ever listen thy brother!
My brother has been a money pit.  Everything that comes out of his mouth is worthless piece of crap.  So I sold EPO at a loss of $1075 + commissions in my QT TFSA!

Rule#2:  Never add onto a position of a stagnant penny stock!
I wished I never heard of Noront Resources and UC Resources.  Anyways, I finally managed to sell some of my UC shares @ 9 cents in my QT RSP and TFSA.  I haven’t even calculated my losses yet.

Rule#3:  Sell it or it will come back and haunt you!
I bought CLF and POT and they both had a spectacular run.  I had about a 5-8% gain on those two, yet I didn’t sell them at a profit.  Now, it’s come back below my buy in price.  Still holding it, but I wished I had sold them just a day or two ago…

Bad Seeds

1 Mar

Noront Resources Ltd. and UC Resources Ltd. are a couple of bad seeds in my portfolio.  Yes, I’m holding them still.  I’ve spread the bad seed (UC) to my QT RSSP and TFSA account.  Both of my accounts are suffering based on my bad decision by adding more position at a higher price.  I’ve done the same with Noront…by adding it to my RRSP, but luckily I manage to get out of that one with no real damage.

Current Holdings
NOT:  Original Investment $4300.00 -$2720.00 current loss
Notes:  I watched it go from a profit of $900 to negative $2720, hard to swallow.

UC:  Original Investment $5230.36-$820.36 current loss
Notes:  Volume is very low, I will have a hard time getting rid of my 49,000 shares.

Plan of action:  I might have to take my current losses to make my portfolio stronger as a whole.

Betting on the Right Stocks

19 Oct

Sometimes you’ll hit a home run, sometimes you’ll strike out.  Know what your risk tolerance is for one particuliar stock. 

Greed got the better of me.  In my mind by holding 40,000 shares in a penny stock can reek explosive gains if it only went up by this and that.  10 cent gain = $4000; 25 cent gain = $10,000; 50 cent gain = $20,000  and so forth.  You get the picture, right?

It was a risky move by adding more shares to my position in UC Resources.  My original stake is at a mere 17% gain versus a more current pick, GIX, that went on an explosive run to 83%.  I am quite disappointed how the initial launch in UC Resources didn’t quite catch on fire.  My second and third position has basically wiped out my gain.  Patience is virtue.  This is starting to wear on me as I have watched a similar junior stock, NOT, I own go down to 43% in which I still own.  It’s quite discouraging to buy in when the stock is rising only to fall back below your buy in price.  All the glitter of a 10 cent stock can be wiped out by a marginal fall of a cent.

Choose your picks wisely.  I did miss out on golden opportunities.  Held onto losers while a runaway stock just slipped through my fingers.  Best to always minimize your losses and follow where the money is.

Climbing out of the hole!

5 Aug
  1. My buy in price for FSYS was $28.70 USD against weak Canadian dollar.  When it took a tumble, I tried to buy another 100 shares @ $26.25, but only 5 shares got bought and I quickly cancelled the rest of the order.  Days after, the stock went on a free fall down to low of $24.75.  Since then it had dragged on for a bit.  A long ride up back to my buy in price.  Today, they released stellar earnings for FSYS.  Good news for me.  The share price jumped $5.25, ending up at $34.83 USD against strong Canadian dollar meaning I’m losing out on the currency conversion!  Still an amazing feat for a one day gainer!
  2. Long time holder of NOT owning 2600 shares has given me a sore red eye for over the past half year.  Today, NOT gained 20 cents after a couple months trading at its low.  Finally see the daylight of this thing.  I still need another 58 cents to recoup my losses.  Waiting for big news, NOT is waiting for a good launch!! 

Top Three Winners and Losers

9 Jul

My successes have also been hindered with failures.  Highlighting my current winner and loser holdings as of July 9th:

  1. GQ $2050 +547%         /     BGEM ($390) -62% 
  2. JAZ.UN $409 +48%    /      NOT ($2087) -40%
  3. SBUX $1248 +33%      /      NM ($393) -25%


6 Apr

Some major changes needs to be taken place to consolidate all of my holdings.  I have gone overboard with sporadic buys in stocks without much thought to them.  Borrowing and using margin to make new investments isn’t that cost efficient when they aren’t making money for you.   It’s time to re-evaluate my portfolio.  Smart decisions should be made by selling some losers and winners to clean up what I have made a mess of.

I am hitting myself over with RIM.  I had a gain of over a thousand bucks.  I was told to sell it before the earning release on March 31st.  But I was stubborn and wanted to see more gains.  I held on.  It dropped down to my buy in price… I panicked and sold out at break even.  Today it was up 4%, a profit of $300 if I had held on. 

This is not the first time either.  I did the same thing with BGEM (100% potential profit) and NOT ($900 profit)… now it’s down in the dumps.  I’m too greedy and unwilling to let go of a good thing till it crashes and burns!

I could have made $2500 in the short time span … instead I’m down $1000 of my own money.

This goes to show you that one should take profit whenever they can.  It’s hard making up lost grounds!