I left home around noon and at that time, the TSX was under the 12 000 points, loosing, I could simply not believe my eyes, another 400 points being lost! I had enough of the stock market disaster. I had some free movie tickets left, so I took one and went to see Simple 8. It was very entertaining. Once I log in back to my laptop, the TSX had gained points, establishing itself over the 12k points. Currently, the TSX is at 12 164.23 points, a loss of 215.90 points. Not so bad, but what I anticipated happen. The TSX keep losing points, the bottom line has not been reached and that’s very scary and we are facing right now one of the most powerful, horrible events of our modern time, this being of course, speaking exclusively about money. But money is not anything and I am just very glad to be able to through this without too much problem. This being of course at this time. Because it’s a day-to-day situation and I am holding like ever before.
My non-registered portfolio is at 105 029.81$. There’s less than 15 minutes before the market closed. I am going to be ok with my margin, at least for today. But the question remains for the long term.
Finally, my sell order goes through. Remember yesterday, I was trying to set myself a sell order at a limit price of 8$ per unit for Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) and it wasn’t working? Well, I just place the sell order a couple of minutes ago and it finally go through. Whenever HZD reached the 8$ per minute, I will be selling all of my units. Other than HZD, I do not plan to sell any other investment. I had been patiently waiting to sell my HZD units for quite some time now. I hope my sell go through. It will help me to decrease my margin usage.
At this stage, I am not under panic. As a small investor, I know that my future financial success will depend on the action I take in those crucial times. Some of my investments are going extremely well, some other don’t. I will have more time this weekend to discuss about my investments that had performed well, and those who did not performed too well. Personally, I don’t think a portfolio can be compose of only winner picks, unless being a very good stock picker. In my situation, I will be considering myself extremely lucky if I can go through this without too much loss. I am not freaking out because I am confident the situation will sooner or later stabilize. I mean we still need natural gas, pipeline, and electricity right? This is not the end, it’s the beginning of a new capitalist and no matter what happen, I will obey to Wall Street gurus: I will continue to buy stocks as much as I can, but this time with real money, no more monopoly margin account money... Despite the situation, opening a margin account had been a great opportunity to test my investment abilities. We’ll see what happen next.
I am patiently waiting for my next week pay check to invest in TransCanada Corp (TRP). It will only be a 1 000$ worth investment which should allow me to buy more or less 25 stocks of TRP. TRP has a good chart and I think adding some stocks, even only 25 stocks, could be of a great benefit. I don’t have too much money to invest at this time. I may only be able to invest 1 000$ per month in stocks. It’s a good time to invest in TRP because they had announced lately a dividend distribution of 42 cents per share for stocks own at least 3 business days BEFORE September 30, 2011. So that’s currently the project.
But I have to admit, I am still thinking about the Sprott Strategic Fixed Income Fund (SFI.UN) and its 6% dividend. SFI.UN closed today session at 9.97$. At TD Waterhouse, SFI.UN has a margin loan value of only 25%, and TRP, has a 70% loan value. So for the benefit of my margin, I will probably invest in TRP, knowing the cash will be real and, on top of that, 700$ will be add to my margin account value - more or less. Got the picture? And don't forget that 10$ dividend coming soon :o)
My non-registered portfolio is now at 105 121.38$.
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