Week #6
Holy cow! Over the weekend Equinox announced their takeover of Austrian company citadel mines. Based on previous observations of companies stock performance prior to takeover announcements, we think EQN.TO will go up.
First short stock of the game for us is Newmont Mining Corporation. We have been watching their stock price for the past month and it shows declining trend which we intent to capitalize on.
Sold Evertz Technologies and cut our losses. Unfortunately we do not have time to wait for bad investment decisions to turn good. We need to allocate our cash where it will grow now. This is becoming increasingly important as the end of the game draws near.
Sold American Potash company CF Industry Holdings for which grew by $2 since we purchased it last week. Also sold Potash One Corporation, which was looking like the worst decision we have made yet, made a massive gain of 18% in one day. That brought our Canadian account back into the green in one day. We are really pleased with this as it was looking like we were going to take a BIG loss on the sale of KCL.TO.
We bought Barrick for $47.39/share and sold for $49.02/share the next day. Moo.
Looking to re build our Canadian portfolio and bring ourselves out of 25th place in the rankings we have been on a selling spree. XGD.TO, not doing anything = time to go SELL. EQN.TO, take over boosting performance = mistake SELL.
Taking on a different approach, we decided to look into everyday businesses. Our pride is Mexican Wal Mart. With the Canadian government redecorating their cabinet and the US looking at President Obama under a microscope, Mexico looks to have the only stable government in North America. We also purchased Western Energy which happens to be owned by my landlord. This company was just purchased and is under renovation so were holding on to this for as long as we can. Thinking of Christmas season we also purchased shares in Sears to get the holiday cheer!
MOOOOOOO
No comments:
Post a Comment