The TSX closed today's session on 20,690.81 points, losing over 300 points. The $2,100 money transferred I did finally arrived in my margin account. My margin debt is now at $44 157,57. My non-registered portfolio closed the session at $142,623.16, my US portfolio at $5,048.59, my RRSP - stocks only portfolio - at $66,289.28, and my TFSA portfolio at $126,250.21, Overall, my stock portfolio experimented today with losses of over $4,500. Nothing fun there, but I had been thinking about my next investment move. And I came up with some ideas.
I haven't invested in anything today, as I was too busy watching the TSX going down... And I taught: it might go even lower... and so it did! It's the third day in a row that my belove TSX is losing points and it's kind of a mix of heavy heartbreaking and craziness feelings that I am monitoring the TSX. This mixture is the perfect combination to match in drama Johnny Depp's defamation trial that is currently ongoing against ex-wife Amber Heard. Everything is available on YouTube, it's not exactly pleasant. After this, both Johnny Depp and Amber Heard are going to be banned from Hollywood. Personally, I don't want to hear any of those two ever again - or at least for a very long time, please.
Fact that the TSX registered some heavy losses 3 days in a row could mark the beginning of a slow entrance into a worldwide recession. Tomorrow, if the TSX doesn't gain a bit of point, I am going to be really really mad.
Lately, I had been watching closely Royal Bank of Canada (RY), thinking it could be a good stock to invest in at the present time, in regard to its dividend yield of 3.688%. RY currently trades about $10 lower than it did over 3 days ago. Canadian Imperial Bank Of Commerce (CM) value hasn't been hit very hard by all the drama. At more than $143 per share, CM is quite expensive. Na is down, but not enough. What I am looking for is a bargain, but also a stock that pays a sustainable dividend and will be able to go through any mess without too much pain. I actually find something better than Royal Bank of Canada (RY)! It's a stock that is well already very well implanted in my non-registered portfolio: Bank of Nova Scotia (BNS). In the days of Derek Foster's Stop Working, BNS was one of Derek Foster's stocks. It's been in my portfolio ever since.
In my non-registered portfolio at National Bank Direct Brokerage, BNS has a margin value of 70%. This appears to me like a complete failure or an act of jealousy coming from the National Bank Direct Brokerage. A quality bank like Bank of Nova Scotia (BNS) deserves at least an 80% margin value. A 70% is not as much as it should be. When it comes to very high-quality stock, a note of 80% is well deserved. A 70% is nothing. But I guess National Bank Direct Brokerage is not exactly a 5 stars broker. It doesn't even provide the value of my portfolio in real-time! I find this to be extra annoying. The only advantage of having National Bank Direct Brokerage as my broker is the $0 commission fee, but sincerely, that's really all. You won't get anything fancy from National Bank Direct Brokerage.
Bank of Nova Scotia (BNS) closed the session below the $84 per share, which is an interesting entry price point. But maybe BNS shares will go even lower. I am not in a rush for anything these days. BNS lowest value for the past 52 weeks was in the $75 per share. I think BNS can go lower. We'll see.
While we are dealing with this hostile environment, there are many ways you can enjoy a cheap price stock environment: you can buy a bit into your favorite high-quality stocks - no need to buy hundreds of shares - you can only invest in a few shares here and there and wait if the TSX moves lower - because it could even go lower. If someone told you otherwise, that person doesn't know shit. It's certainly also ok not to buy anything if you don't feel comfortable enough, but you might know that it's when stocks are cheap that you need to buy and not when they trade are their highest value, when the TSX is in the 22,000 points, I am just saying.
Personally, I am just watching for now because I think the TSX can even go lower. I may invest a tiny bit here and there.
Be safe, and make sure you secure your margin shit, if you have any.
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