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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