Monday, October 12, 2009

Back to the Blog...

Sorry I haven't updated lately, but there is lots going on (outside of stocks). I have been buying and selling over the last few weeks, as the moving average lines have indicated that I do. I rode up Gold in the HGU (would have been better in the HBU), and I made some money on energy in the HEU.

Right now, I hold Manitoba Tel (MBT), BCE Inc (BCE), Finning Int's (FTT), Manulife (MFC), Prolifera (PDP), and Yellow Pages Income Fund (YLO.un). I have less YLO than I have in the past, as I sold into strength on its 15% run in September, and I have PDP as a speculative stock (although I am still following the lines and they said to buy). I try to stick with blue chip stocks but I still follow a couple of spec stocks from my past.

I may have to sell BCE and MBT on Tuesday, as they are in 'Sell' territory, although MBT is at its support level around $32. I will sell it if it drops much more. Also, FTT and MFC at at 'Buy' (I bought them late last week), which means they could quickly become 'Sells' if the market drops this week.

I am watching a few stocks and ETF's to buy on Tuesday - HFU (Financial 2X ETF), HOU (Oil 2X ETF), AGU (Agrium - fertilizer, etc.), HSE (Husky), MSI.un (Morneau Sobeco income fund). I will put in stop-buys on all of these securities today and pick them up tomorrow if their prices strengthen a bit. I like to buy stocks on upward momentum, not only in the graphs but also on the day I actually buy them.

YTD, I am up 51.4% for the year. I have been positive (by at least a little bit) every month since last November. I am a little bit negative so far in October, but it is early in the month. I am still chipping away at the loss I had on the first of the month. I am still expecting the market to pull back, sometime soon, as investors lock in some of their profits, but I will continue to follow the graphs until that happens. Earnings have been fairly strong lately, and a few US banks report this week so that will show us how the financials are doing.

I am just under 14% invested (in stocks and ETF's) right now, with the remainder in cash. I looked for money market funds and other 'safe' investments for my cash but the return is so low, I am just choosing to leave it in cash. This way, I lock in my gains from earlier in the year, I won't lose a significant amount in any correction, and I have lots of cash ready to buy stocks and ETF's on the next leg up.

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