Gilberts portfolio

[selkirk]

so bought CUF.un at 18.35 a couple of days ago,

300 X 18.35 = $5,505

today it was sold

300 X 18.80 = $5640

profit +135 - 20 commish

profit $115 goes to cash

will also sell two uncovered call on July 70 RIM for .66 (.66/.67)

200 X .66 = $132 - $10 commish

so $115 and $122 goes to cash. the uncovered calls are in case I decide to roll out and down my June rim 68P to July.
now trades at $60cdn.

Gilberts Portfolio June 9, 2010 update (began November 18,2009)

started with $10,000

- 2 BNS July 52 calls

- 2 BNS July 46 puts

- 2 CNQ AUG 70P

- 1 RIM June 68P
-2 RIM June 68C $100 credit
-2 RIM July $70 C $122 credit

cash = $15971

note: order for 300 cuf.un at 18.25, this is dangerouse because it could fall to 17.50 if we get a sharp market correction.

still like a reit that gives me close to 8% at that price.


the portfolio is doing well except for the RIM P. Glad I only have one of them out,
and some uncovered calls as a hedge.

BNS blew the doors off their numbers but did not move much, the banks are dead until the talk of bank tax, bank levy or what ever dumb thing they think of is done.

thanks
selkirk

 

[selkirk]

by the way CUF.un opened at 18.65 hit a high of 19.10 and closed at 18.93 so could have got a better price.

before these last few volatile months you could buy it for 18.80 and sell at 19.20 like a clock...now more like buy low 18s and sell at 18.80-19.20, though this take ussuallly more than a few days.

what I like about trades like these, not really dead money since you get .12 div every month. so it pays to wait.

thanks
selkirk

 

[selkirk]

Rim is put to gilbert at $68 so he owns 100 shares of rim at 68.

earings hit the fan on thursday, unwise to buy into or sell before that date. so will wait the last 6 times 4 were bad 2 good.

have two calls so one is covered since I own 100 and the other is uncovered.


will wait to hear the news before doing more trades. the rest of the portfolio is doing great.

by the way cnq split 2-1 so the options are 4 cnq aug 35P.

note: buy 200 AP.un at 19.55 for Monday...if it hits closed 19.51. yield 6.97% good reit southern ontario.

Gilberts portfolio will probably go for one year only.Toronto is up around 3%, so doing well so far. will wait for thursday.


thanks
selkirk

 

[selkirk]

well rim came out with earnings and the stock dropped 10%, oh joy, they beat on earnings and the shipments and sold were all good the guidance though missed, amount expected to ship though higher missed, and reduced expectaions.

should just blow it out the door, but that would be easy and smart.

-2 calls aug 64 .70/.75 = $140

do not believe it will come close, this is on montreal, and in Canadian.

thanks
selkirk

 

[selkirk]

rim closed at 54.08 cdn. will put a stop on the 100 in the portfolio at 51.50 cdn. ouch, so the stop is in, and if it hits that level will sell and move on.....

will update portfolio later, still doing good despite haircut.

thanks
selkirk

 

[selkirk]

Gilberts Portfolio July 1, 2010 update (began November 18,2009)

started with $10,000

- 2 BNS July 52 calls

- 2 BNS July 46 puts

- 4 CNQ AUG 35P

100 Rim $68 100X$68=$6800 now $52.40cdn.
-2 RIM July $70 C $122 credit
-2 RIM AUG (.70/.75)= $140 200X.70 =$140
-2 RIM Aug $62 .50-.60 200X.50 =$100 based on close June 30.

cash = $9411

the June RIM calls expired worthless the stop is still in place for RIM it hit a low of 52.10 cdn. so it will probably hit the stop

will bring the commission costs up to date later. RIM was a train wreck, however it dropped sharply on earnings, besides avoided the stock, should have probably bought a put on the stock, for 100-200 could have bought some insurance, though at the time looked expensive better safe than sorry.

also should have put some of those uncovered calls before the earnings. account is still doing well, RIM will probably be stopped out this week.

thanks
selkirk

 

[selkirk]

Gilberts Portfolio July 1, 2010 update (began November 18,2009)

started with $10,000

- 2 BNS July 52 calls

- 2 BNS July 46 puts

- 4 CNQ AUG 35P

-2 RIM July $70 C $122 credit
-2 RIM AUG $64 (.70/.75)= $140 200X.70 =$140
-2 RIM Aug $62 .50-.60 200X.50 =$100 based on close June 30.

cash = $14561

Rim has been sold for a loss, at $51.50 cdn., the stock is currently just over $52...the stock is cheap, and might benefit from a rebound in the equity markets, if we get one.

personally I have 300 shares of RIM, also have 3 covered calls, and 6 uncovered calls. they are for July 74, aug 66, and sept 64. if RIM moves up 10% would make money on the trade. for now it is a loss...will keep it, waiting for sept. when they come out with the new products...time will tell....it will be either down 25 or up 25%...

Gilbert has a small portfolio and may need the money for puts on cnq, on monday cnq traded just over 34cdn. now it is just under 36cdn. and going higher...will trade off the price of oil...they are increasing production at horizen...

will sell more puts...to pay for some of the trades.

thanks
selkirk

 

[selkirk]

BNS went down .73 cents to close at 51.71cdn. on Friday. so the BNS July 52 calls and the BNS july 46 puts both expired worthless. :00hour

the 2 RIM July $70 calls expired worthless to, despite the money from all of the options Gilbert still loss money on RIM. (note I still own a small amount of RIM, down about 6% currently, depsite the options I sold against the position.)

since these options expired Gilbert will make a trade later today.

Gilberts Portfolio July 19, 2010 update (began November 18,2009)

started with $10,000

- 4 CNQ AUG 35P

-2 RIM AUG $64 (.70/.75)= $140 200X.70 =$140
-2 RIM Aug $62 .50-.60 200X.50 =$100 based on close June 30.

cash = $14561

thanks
selkirk

 

[selkirk]

CFX.un to buy 200 at 14.50, will sell at 14.90, if does not hit the target then will keep it and collect the .20 monthly div.

all of the stocks, opitons trade in cdn. and the US, this one is just on Toronto. Canfor pulp pays a .20 div monthly, and is cashflowing .30-.40.

Gilbert want to try a quick trade, cfx.un closed at 14.58 so might not get the stock.

Plus this has a great yield and can currently support the div.

negative Pulp prices can drop like a stone, so this is not a true income product, or a high risk one, ie. like the small amount of bp bonds I own, more on the trading side.

(I own some myself at a prices of 13.50-14.50, and sold half at 14.80, have been watching stock since 8 but did not buy, have no idea why not...)

thanks
selkirk

 

[selkirk]

time to sell something....the real gilbert would not have seen a tim hortons but today they are everywhere in Canada.

anyways have a small position, so gilbert will sell

2 p sept 34 .35-.45 =$70

all of the 70 goes to trades.

gilbert has to buy thi at 34 cdn. until the third friday in sept.

commission on this trade would be around 8-12, at most discounts brokerages in Canada.

all of the money goes to trades

$70 trades added.

by the way the div on cfx.un is going to be .22, and they announced earnigns and the stock went up on them.

bought at 14.50 and the stock in two days went to 13.76 for a low, and then 13.80-14.20, (I am a great market timer..lol..).

anyways own 200 sell is the same, until then will collect the div. cfx.un trades on toronto, along with tims thi.

thanks
selkirk

 

[selkirk]

will sell 200 cfx.un at 12.88,+.22.

bought 200 at 14.50 so that is a good loss.

reason for selling
I know someone who works at a pulp and paper mill and before they could not keep it in stock, now the buyers have gone away, and they are selling half of what they were.

pulp is weaker in the second half of the fall, but buyers are probably going to stop buying to get the price down to 800-900 a tonne. from 1000-1200. also there is another mill starting up from bankruptcy, but that is a small negative...when will the buyers come back, maybe in a few weeks, and I am selling at the bottom.

however it is not acting well....so with these facts and the stock not acting well will go else where.


the august options are looking great so...

1 AGU 62P oct. 1.15/1.26 $115
I have to buy agrium at 62 cnd. it is now at 67.41

2 puts sept cnq 34 .47/.55 $94

2 puts sept. TRP $36 .35/.40 = $70

that is all the trades until september. the aug options look like they will expire.

options on montreal, prices in cdn $

thanks
selkirk

 

[DOGS THAT BARK]

Just got my Bottom Line publication and had good aticle on Canadian market. Am looking at one stock inparticular they had listed SJR and wanted your thoughts before I pull trigger.

 

[selkirk]

DTB it is a decent stock, shaw cable is one of the first companies I worked for after school..., worked for a contracting company redoing the cable sysytem of a small town.

one of the hardest jobs ever, money was good.

on to the company

shaw provides cable services mainly to western Caanda, Ontario west. Rogers east (souhtern ontario, ) Quecbecor Quebec, and there are a few smaller players.

the div is safe, though it will probably not be raised or grow quickly, they are going to enter the wireless area and that requires money (though they will do it slowly).

the cable is dependable though growth will be slow, also Telus has introduced Telus TV in Vancouver...and has 50,000-100,000 subscribers, they are in phone, wireless. the threat is not large however this shows there will be increasing competition going forward.

all of these companies going forward will offer wirelss, maybe some form of tv ie. bce (expressvu /dish), telus tv, and Rogers is also a big cable operator.

there are a few big companies in this field

RCI (RCI.b cdn.) 3.64% growing div, cable company also, do not compete with shaw cable, great wirelss division, and growing cash.

neg there are some smaller wireless companies, not sure how they do but will limit growth.

BCE 5.82% keep raising the div, the wireless div, is showing signs of life, decent stock.
will face the new competition.

Telus 4.80% they are mostly in the west phone and wiresless, and will keep funding telus tv to compete with shaw.

neg, is the same for bce and rogers more compeition.

shaw 4.33% the div is safe and cable is a good cash cow, do not know how much telus tv will effect them going forward, small now, also they should be able to make money on wirless.


these are all companies worth looking at, personally I am waiting for a pullback, some of these stocks have run, so would like to get them 5% cheaper.

ie. rogers was 32-34 now 36 cnd., telus was 34-36 now 42 cdn., bce 30 now 32cdn.

and do not follow shaw but the group will trade the same.

buy for the div, and know div increases will be limited, so you have to be happy with the yield.

thanks
selkirk

 

[selkirk]

well most of these option will expire worthless, will update the portfolio later.

for now cnq 3 call $36 oct (.30-.36) = $90

cnq has fallen to $32.91 cdn. the stock is a very good energy stock, however oil hit a 5 week low and now a 7 week low, and the economic numbers out of the US have not been good for weeks, so this is a small hedge on the cnq puts.

or in other words how to make your portfolio complicated,

money goes to cash.

will buy 300 Atlantic power at 13.30 cdn. if it hits this level doubt it, people are chasing yield.

bought this before at 12.90 and sold recently at 13.64, has hit 13.70. this trades on Toronto and New York, may correct if we have a correction, some spot power, still like the yield.

thanks
selkirk

 

[selkirk]

Gilberts Portfolio August 31, 2010 update (began November 18,2009)

okay hear is an update not counting trading costs, loss 280 on cfx.un that is counting the one div I got, with all of these options I wrote made up for the loss and a small gain of $65, yes big money.

last week bought atp trades on toronto and new york, hit 13.30 cdn. will qualify for the aug, div a big .0912 cents a share monthly. will hold unless it breaks down, ie, like rim. currently at 13.37 cdn. seems to trade 13.20 - 13.40 range.

will sell 3 calls at .35 .35/.45 on montreal all money goes to pay for some trades. jan call atp.

all of the options look good except for cnq, and will roll that out and down, 34 put sept.

thanks
selkirk

started with $10,000

-2 puts sept cnq 34 .47/.55 $94

-cnq 3 call $36 oct (.30-.36) = $90

-THI 2 p sept 34 .35-.45 =$70

1 AGU 62P oct. 1.15/1.26 $115
I have to buy agrium at 62 cnd. it is now at 67.41

300 atp $13.30
3 atp jan calls $14 (.35/.45) =$105
2 puts sept. TRP $36 .35/.40 = $70
cash = $10636

+ $105 added to trade cash atp calls

 

[DOGS THAT BARK]

Pretty amazing in these times Kirk good job :0074 --I am certainly impressed at how you hedge positions to avert losses--I 've never been able to master that--over my head

 

[selkirk]

thanks dtb, the portfolio has worked out well, have four trading portfolios and will review them later, and some of the bad and good trades of the year.

this is generally the way I trade, or invest, there is a few problems with the portfolio, should be more divs, or bonds, and a very large cash position is required in case have to act on one of the options.

recently in my biggest account tried to buy 3 bonds, and lower my cash postion, that had a yield of 5% over 5 years, and was shut out, they were sold out in 5-15 minutes. simply incredible investors are jumping over each other to get a 5% yield in some cases 2% or less as long as they feel it is safe.

remember late 2008 when you could pick up 8-12% paper, safe easily, all day long.

thanks
selkirk

 

[selkirk]

an update since the sept. options expired last friday, options always expire, excercise third friday of the month.

cnq finished at 34.23 so the calls expired worthless. the uncovered calls 36 look fine since today cnq dropped to 33.47 -.72, not to worry still a good stock just limited in what energy may do...

tim hortons expired worthless 34 sept, the stock is now at 37.81, a favourite of a very good value fund manger in Canada who manages the ABC funds up north. have some and also the puts expired worthless in my own portfolio.

the trp transcanada pipeline puts also expired worthless as trp is now at 37.52, do not see much more upside but own some for the 4.26% yield.
would buy more if it went to 34, or if we have a sharp downturn in the market and people need to sell to meet margin.

ATP is at 14.03, surprised how quick it is moved still for income a good play .0912 cents per share a month plus money from the option.

agu is at 77cdn. and is strong, own some and covered calls, large position but will have sold most in oct, and jan for a return of 10% in 4/5 months. not bad, would have done better if I just held it and forgot about the options.

will put an order until the end of friday to buy 300 JE.un on toronto for 14. will sell at 14.20. if it hits that target...yields 10%, so will collect monthly div.

will wrap up the portfolio in November, making it one year....that is a special day for Gilbert.

thanks
selkirk

started with $10,000

-cnq 3 call $36 oct (.30-.36) = $90

1 AGU 62P oct. 1.15/1.26 $115
I have to buy agrium at 62 cnd. it is now at 67.41

300 atp $14 = $4200

3 atp jan calls $14 (.35/.45) =$105

cash = $10663.36
counts 27.36 atp div for sept.

+ $105 added to trade cash atp calls

total portfolio $10663.36 + $4200 = $14863.36

 

[DOGS THAT BARK]

total portfolio $10663.36 + $4200 = $14863.36

Absolutely remarkable---:clap:

 

[selkirk]

thanks DTB, made some good trades and a little bit of luck goes a long way.

a brief update: missed out on je.un by one cent, closed at 14.01 on thursday that was the low, had an order for 14.
and of coarse the next day it hit 14.20 and 14.25, currently at 14.45.

actually put in a large order myself but also missed out by one cent.


as for gilberts portfolio, all is quiet, will collect the monthly atp div of just over 9 cents, and will also put an order in to buy 200 shares at 14 JE.un on toronto. the portfolio will wrap up in November.

if it went further would do some more trades and add a gold stock with a covered call with it, also buy some preferred with 5 year resets so my 10,000 in cash would make more than 0%, would make around 4% instead.

thanks
selkirk