My overall balance hit a high on April 26 but a weak close to the month (caused primarily by the Greek debt crisis, apparently) has left me at a YTD gain of 3.6% - behind my YTD goal of 4% (1% per month for the year).
I am back in Yellow Pages Income Fund, as I bought back in on a dip mid-week and I am again enjoying the roughly 12% yield (or I do, at least, when the distributions are paid out every month).
I also currently own ECA (Encana), WJA (Westjet), SNC (SNC Lavalin), BCE (Bell), MBT (Manitoba Telecom), THI (Tim Horton's), RCI.B (Rogers Communications), REI (Riocan REIT), and HFU (Financial Bull ETF).
For May 3, the only security that I follow that is a 'buy' is MBT but I already just bought it so I don't need to buy more (yet).
The sells for May 3 include SNC (which I own) and many that I don't own such as HJU, HSE, L, and LIF.UN. Since I don't own these securities, I don't have to sell them just stay out of them for now. Since they are at the sell point right now, a slight gain in any of them would put them into 'buy' territory.
May might be the last month with decent trading action for awhile, since June through August are typically slow months. I would like to make some gains in May before the summer, but I won't alter my method to do so.
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I purchased MBT in January and it's down 10% now. Analyst do not like this stock as they are not upgrading their network to compete with cable.
ReplyDeleteThey prefer BA.UN because they have fiber to the home and are now position to compete against the cable companies.
I am debating on either switching or average down. What are your thoughts? Did you sell yours as it is now below the 40 day moving avarage?
Bernie
Hi Bernie,
ReplyDeleteSorry for the delay in responding, but the markets have been crazy lately, as you know. I had sold my MBT some time ago (when it went down through the 40-day MA) but I am continuing to monitor it. I currently own other telecom stocks (T, BCE, and RCI.b) but MBT looks weak right now (even though it is likely an eventual takeover target). Sorry, but I don't follow BA.un.
MJ