Tag Archives: Suncor

Paid off my balance transfer today!

13 Sep

Back in February 2013, I was offered 0% balance transfer from MBNA Smart Cash Mastercard.  I transferred $8,000 over to my brokerage account to buy Suncor.  As the story goes, I sold out Suncor for a measly $70.05 profit plus $99.00 in dividends.  After I sold Suncor, the share price kept on climbing as Warren Buffet decided to put stake in them!  If I had kept Suncor till today, I would have profited $1510.05!!

My instincts were wrong and I fell short of achieving a great return from Suncor big time!

Today, I paid back MBNA $7,441.93 to bring my balance transfer to zero.  My 0% promotional rate ends on September 16, 2013.  There is a 1% transfer out fee, so this “0% promo rate” actually cost me $80 for the past six months.

I received a letter from MBNA.  I am invited to upgrade to the no-annual-fee MBNA Smart Cash World Mastercard!  I can start enjoying 5% cash back all over again on eligible gas and grocery purchases for the first six months.  After six months, it will revert to 2% on eligible gas and grocery purchases.  All other purchases, I can earn 1% with no limit to the cash back I can earn.

MBNA Smart Cash World

Since I am back to zero balance in my MBNA Smart Cash, I have accept their Smart Cash World offer.  For the next six months, I will put all my gas and groceries to my new card!  Let the cash back begin!  If I spend $1600 in the next six months in gas and groceries, my cash back will cancel out my $80 transfer out fee!  Easy peasy, I spend around $120/mo on gas and $130/mo on groceries.

Done deal!

By the way, CIBC Visa is offering me a 0% balance transfer promotion… tempting, but I think I better not since I have a mortgage to take out coming up very soon.

 

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Swoon, market is rallying!

11 Jul

Time for me to get the fuck out of Suncor, before it dips below my buy in price.

For most part, this stock has been in the red.  There were a couple times when I could have sold out at a small profit, but I wanted to wait for a bigger profit only to end up with a paper loss.

This time, I’m taking my little profit and a peace of mind.

Trade Details:

Bought on Feb 8, 2013- 300 @ $32.30/share

Sold on July 11, 2013-  300 @ $32.56/share

# days held:  153 (TOO LONG)

Commission paid:  $4.95 from QT, $3.00 from VB

Profit:  $70.05

Dividend:  $99.00

I can’t wait to get out of Goldcorp!  This is a stock I regret buying.  I had a gain of $200, but I didn’t take it when I had the chance.  Now, I am holding on a paper loss of $1270.95 at the moment.  >_<  I tend to have a bad habit of holding onto stocks for too long…

Added 100 @ $40.75/share of BTE.TO on Margin

9 May

With my new Virtual Brokers account up and running, I decided to take on a margin position for BTE.TO.  I am, of course, attracted to their monthly dividend of 22 cents per month with a yielding rate of 6.50%!  Their financial seems to be strong and it all checks out.

What is BTE.TO?  Their full name is Baytex Energy Corp.  Yes, it’s another oil/gas producer!  It is in a slump like all other companies in the sector.  That’s why I’m jumping in now than later.  Might as well catch the wave and ride it out.

Once my position in Suncor is in the positive territory, I sell out for a small profit and seek better alternatives to increase my portfolio.  I’ve been holding since mid-February 2013 and it’s been giving me nothing but losses up to my eyes.  We shall see how this plays out.

My Virtual Brokers account has been set up with my equities transferred from Questrade.  Questrade charged me $125 + $6.25 (GST) for transfer out fees.  Virtual Brokers will reimburse me $131.25 within 60 days.  But why so long?  To make sure, I stick around?

Side Notes:  Virtual Brokers does really charge you as they advertise!  No more paying extra ECN/Exchange fees that Questrade was charging from time to time!

Now I’m really considering transferring my RRSP over to Virtual Brokers now.  Here is my today’s trade on margin:

BAYTEX ENERGY CORP BUY CAD 100 $1.00 40.750 ($4,076.00)

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!