As you have likely noticed, I have decided not to update my actions every day - it is just too boring, plus it pisses me off writing about a loss or a missed opportunity on the same day that it happened.
Today, I sold out of PN (a small online photo processing company) that I had a few shares of, as it has had a nice run lately. It will likely keep rising, but I don't like to get greedy.
I didn't sell any other stocks today, but I did pick up some Encana - great company, and natural gas is so low, it just HAS to go up sometime (doesn't it?).
One of the companies I follow - Thompson Creek Metals (TCM) - announced a financing yesterday (at $14 per share) and promptly dropped over $1 today, to $13.82. The share price is now just below the 40-day moving average, but it should find support there, since the financing was at $14. I will be looking to pick up some shares around the $14 level, when it passes upwards through the 40-day.
I may have to sell LIF.un tomorrow, if it goes down a bit more. Discipline is the key to my investing strategy, and also the key to limiting losses. Both HBU and X are buys for tomorrow as well, but they have both burned me in the past so I am a bit gunshy and will hold tight.
Something still tells me there will be a 5 - 10% correction in the next few weeks, but if I am wrong, I will jump back into stocks when the graphs tell me too. Many stocks are almost at the buy level, or they will hit the 40-day line and then tank downwards - time will tell.
I now hold ECA, MFC, PWF, LIF.un, and TRP.
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Hi I saw you yersterday on BNN. I m also an investor with a full time teaching job trying to send kids to university. I dont have much time to do research but I did great last year. Thanks for helping regular people. Renelle
ReplyDeleteHi,I am new to the market as of Oct 28/09. I briefly saw you on BNN. I am wondering, if you are a longer term investor or a short term kind of trader? Would you have any trading tips of how you pick your stocks?
ReplyDeleteI am currently swing trading 2-5 days depending on the strength of the trend. I have struggled to move ahead thus far. I've made my share of mistakes but I am learning every day. I appreciate your good attitude and what you are doing to recover your previous losses.
Dano
I new at this hope you got it
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