Well, another week has passed and the market correction hasn't happened yet. Earnings last week weren't spectacular but they weren't bad enough to bring the market down, as everyone seems to be waiting for.
Many stocks that I watch continue to move sideways but I continue to buy and sell as the graphs tell me to. I can't give up my method now, but I will admit it gets frustrating when you have to sell a stock a day or two after you buy it.
I am currently in a couple of ETF's - HBU (Gold bullion) and HFU (Financials), and many stocks - AGU (Agrium), FTT (Finning), MFC (Manulife), MSI.un (Morneau Sobeco), PDP (Prolifera), PWF (Power Financial), TCM (Thompson Creek Metals), and YLO.un (Yellow Pages).
I am 24.5% invested right now, with the balance in cash. I really hate getting no interest on the cash but I haven't found anything that is safe and worthwhile, at this point. If anyone has any suggestions that can get me at least a few percent interest and no, or very little downside, please let me know.
I am up 51.4% for the year so far, although I am down a bit in October. I have been positive every month since last November (there, I probably jinxed myself now), so I would like to continue that streak. The best I could likely hope for at this point is a nice little pullback - I would sell the securities I hold right now, then buy back in when the market resumes its upwards push. There is still lots of cash on the sidelines (including mine) waiting to get into this market, but I don't feel comfortable putting much more in at this point.
For Monday, I am looking to perhaps sell MFC, HFU, PWF, and TCM if they move downwards on Monday, as they are all right at the sell line right now. On the other hand, I am looking to pick up some THI (Tim Horton's), TRP (TransCanada Pipelines), and maybe some more PDP (Prolifera, to lower my average cost) on Monday, as they have all just cross upwards into buy territory.
Thus, the game continues...
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