The portfolio finished in the green by the end of trading Friday. I maintain 6 positions and holding most throughout the week with only one trade completed.
Only 2 of the current stocks I hold are in the green with 4 in the red since I bought them. My timing has been off just a little but overall I'm still in the money but it has been a lot of work. My biggest disappointment has been GUY a gold stock that has lost money while most of the sector has taken off. I may look to cut it loose next week.
Money management is crucial if one wants to stay in the green and not let one position drag things down. If there is no interest or momentum behind it, let it go and buy something moving up.
YES, this is timing the market!
Current Stock Picks
Baytex BTE (0.25)
Alcanna CLIQ (3.3%)
Crescent Point CPG (1%)
Energy Fuels EFR (2%)
Enerplus ERF (0.8%)
Guyana Goldfields GUY (4.9%)
Totals = (0.88%) ($221)
Traded PEY ($239.98)
Traded ASM $830.03
$369.05
As you can see, even with so much red on the screen you only have to be right once and your PF makes money.
I thought I bought ERF at the bottom but it is sliding further down. You have to watch these stocks like a hawk for a reversal. Never lose more than 10%, cut losses early and just sit on cash until you find something else to trade.
This current list had a $500 swing from ope to close just on Friday so give it time. ERF alone gained 7.6% on Friday, almost recovering all losses. It also traded well above it's daily volume which tells me some buying interest is coming into the stock.
Another big mover on Friday was CLIQ. It was up 6% and 37 cents on almost double the daily average volume. I bought it on July 16th so it's taken 2 weeks to finally get green. I think it keeps rising from here and looks like a longer term hold. Booze and weed should do well as trading stocks.
I'm holding $1,306.71 in cash right now. This also changes with every trade made. All totals listed include trading costs. I use Scotia iTrade as my platform to move money and make trades.
Posts I've Published This Week
I NEVER USE MY RETIREMENT MONEY TO TRADE IN AND OUT OF STOCKS!
Looking for Saving Ideas so You Can Invest?
If you are looking at ways to save money this new book The Cashflow Cookbook can help you find some savings to then use to invest.
If you are having trouble getting your financial house in order and organized then you need to read Worry Free Money.
If you are further looking for portfolio ideas then you might find my review of The 6-Pack Portfolio a way for you to get started on your investing journey. All of our retirement money is invested in this manner. We just hold more than 6 positions.
If you want to read more about the theory and methodology of some of Canada's professional investment/portfolio managers then you need to pick up a copy of the book 'Market Masters'. Robin Speziale conducts interviews based on a set of pre-arranged questions. This will give you a real insight into how others invest money and how they think. A must read!
Looking at Income Investing?
All retirees should be income investors. My opinion.
Please pick up a copy of Henry Mah's new book 'Your Ever Growing Income'
What stocks did you buy or sell this week?
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