Tag Archives: RIM

Blast from the Past

13 Jul

Rule#1:  Warren Buffet never invests in the technology sector.  He likes simple companies that produces a steady growing revenue stream where he knows it will continue to flourish through bad and good times.

Technology is fast and ever changing the landscape of the world we live in.  No one wants an outdated device.  We’re always intrigue by gadgets that enhances our lifestyles.  We’ve come a long ways out of the Dotcom Bubble to where we are now.

A lot of Blackberry loyalist are switching over to touch screen smartphone devices for more added cool features that Blackberries can’t keep up anymore.  Thus the big collapse of the all mighty Research in Motion Limited.  Blackberries are becoming a thing of the past and will eventually be distant memory.

Trading at its 52 week low of $7.35 per share.  RIM is on its last breath of life.  I used to be a shareholder of RIM just over a year ago.  Can you imagine it trading at $50+ a share?  A sense of relieve washes over me.  Even though, I sold RIM at a loss for holding it for a month.  I walked away from a company that was spiralling on a disastrous path.  Good riddance.

Apr 6-May 3, 2011 RIM 200 10684.95 9195.05 ($1,489.90) -13.94%

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!!

Call me crazy?

6 Apr

Ah, what do I do when my stocks is falling?

I go and buy two technology companies on MARGIN.  Who hasn’t heard of Blackberry and Iphones these days?  Even though I don’t own either, most people do!  My sis and her husband are the Iphone couple.  My bro and his girlfriend are the Blackerry couple.  

RIM- 200 shares @ $53.40
AAPL- 20 shares @ $338.10

I don’t plan on holding these two for long.. once I hit my $200-400 in capital gains for each stock.  AAPL will probably take some time actually.  I don’t see this thing jumping $10-20 overnight.  But with RIM, I just need it to make that little $1-2 pop and I will opt out of my position quickly.

Encana- Natural Gas Play

21 Jun

Dissapointing results from Research in Motion lead to my ultimate decision to purchase Encana back in April 5, 2010.   I broke down after watching RIM from its high $77.00 falling to my buy in price of $67.00.  I hit the sell button, not wanting to lose my own capital.  Unrealized profits slip through my hands in a matter of days after the shortfall of the quarterly earning report.  Lesson learned.  If I had held on a few more days after I sold, I would have walked away with a few hundred.  But it’s not worth my time to fret and whine now.

My mentality of money sitting in my trading account is to BUY BUY BUY.  I always end up buying at its high.  With Encana, I bought it when it climbed 95 cents that very day.  I ended up buying at the end of the day.  Shortly after my purchase, the stock retreated below my buy in price.  This time, I bought half of ECA on margin and I was afraid of getting a margin call.  Luckily, it never came abouts.  After holding for a couple months, I’m at a profit of around $700. 

Here’s my dilemma, I don’t know when to let go of a stock when it’s climbing.  I keep on hoping it’ll still go up higher if I hold longer.  But many times, I’ve made bad decisions on not selling.  Yet, one time I did sell… that very same stock went on to climb another 200%.  Oh, the stock god does not love me at all.

Selling Mistakes

3 May

Selling is not my usual forté.  Two critical sells were definitely costly for me.

  1. Sold prematurely half of my position of Great Quest Metals to pocket my original stake plus $125 profit.  This stock went on to gain another 200% after costing me $950 of possible profit.
  2. Sold my position of RIM at breakeven after not meeting earnings expectations.  The day after I sold out, this stock went on to recover 7% to this date costing me $500 of possible profit or more.

Consolidation

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!