It has been a busy week for me (outside of stocks), but I still managed to make a little bit of money (up .7% on the week). That doesn't seem like much, but you have to remember that I am only 15 - 20 % invested right now, with the rest in cash. I am still waiting for the Sept - Oct correction to start, but who knows, it may not come at all...
I would have to say that my latest 'favourite' equity is the Yellow Pages Income Fund (YLO.un), of all things (I don't really have favourites, as I try to keep emotion out of stocks, but it looks solid to me). I had first bought some units back on Sept 8, but I bought many more units this week, as the unit price looks stable, it was paying a distribution rate of almost 16%, and their latest financials seemed to show that they were getting their shit together in their move towards digital and away from the old yellow phone books (and they are profitable, from what I could see).
YLO.un jumped 3.5% today alone, for some reason. No recent news that I can find, but I guess the selling finally subsided (the buying has always been there). We will have to see if we get some news next week, and if today's gains hold, but today was certainly a good sign. Personally, I am expecting YLO.un to return to the $6 - 7 level, but that is just me. I am in below $5, so if the distribution stays strong, I am getting paid 16% or so to wait. I read today that they are only paying out 60% as distributions so that should be easily sustainable, especially if they are getting their shit together.
As of today, I own YLO.un, MBT (Manitoba Telecom), RCI.B (Rogers Comm.), HSU (S&P ETF), and PWF (Power Financial). Some of the stocks that I am keeping an eye on (to buy) for next week include HSE (Husky), WJA (Westjet), and Enbridge (ENF.un) although these all have to rise a bit before I will grab them. My return YTD is 52.8%.
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