Recent trades, buying back some reits

[selkirk]

well bond yields have backed up, made a small presentation on bond yields, ie. bond madness and a weak later those bonds dropped in value. my timing is never that good for the most part.

have sold more of my resource stocks, and have puts on my major holdings, saying that when there is a correction you never have enough insurance ie. puts. the value of options has also risen, when markets drop options will go up, insurance rises.

have been trading around West Fraser, sold WY but will buy it back. have very little gold stocks ie. yri, and abx. and covered calls on all of them. YRI is fine, ABX is a small positon that should be dropped.

sold 75% of my reits last week, but trying to back some of the positons, about half and then will see if it drop will buy more.

on Toronto sold D.un 34-36, bought back at 32,
and AX.un 16 bought back at 14.50-14.86.

basically I want a 7% yield and bought these back getting the prices. believe rates may go up but not sharply, if they go up 2%, then these will be hit by 10-15%.

Have held AX.un and d.un for income and they have gone up.

my main dumb move this year is TCK, TCK.b sold for a 15% loss early this year, that was good news, but now have calls matched with puts, more uncovered calls. it has worked but in general should be cut back.

TCK. tck.b is not going anywhere this year, met coal is dead, for lack of steel demand, copper is a 2014-2015, more 2015 story, thought copper would be higher closer to 4,well 3.50 at least. also their balance sheet is strong and they could buy great assets, but the markets hate resources with a passion, this will change but not in 2013.

thanks
selkirk

 

[DOGS THAT BARK]

Strange when stocks-bonds and gold all fall.

Even my TIPS have taken a 8% hit past month.
Have had them since 04 and was lulled into notion bonds don't drop much even in bad times

Have one reit NLY I have had for long time and will keep...has been a div cash cow.

Undecided on what to do with bonds as have several. Was looking back at the worst years returns for each and seems around 10% for most. I can live with that in comparison to 25% plus on stocks.

...and on stocks ...have lost about 20 % of positions on stops...one of our old favs TRP was sold Friday...I will be buying it back at some point. If it drops again big again Monday may buy back before 26th ex date on div.

On plus note that cash we been hoarding will be coming in handy at some point. Would appreciate any heads up from you when you start buying back in.
Thanks
DTB

 

[selkirk]

DTB trying to trade some positions but for the most part will sit back, hard to get the bottom will post here when I buy more.

in 2008 bought YRI (yes had it that long), starting at $11, most bought around 9-8, but the stock went to below 6, that was very cheap. of coarse it seemed cheap at 10, stocks in a correction especially resource stocks correct even more.
sold covered calls and some puts during 2008, will probably never see premiums like that again.

as for bonds, I am short some bonds, mostly etfs. however own a 1-5 year corporate bond etf. do not mind bonds as long as most of them are short term. saying that have avoided the overall main bond indexes and went short term more than 18 months ago, which meant lower returns.

sold off some of my pipelines stocks, but not the whole positons, these are treated by most as yield plays , hoping to buy these back also,

have an excellent chart about the overall returns since the market started (sell in may and go away), not a seasonal investor but the chart made it point, this is one summer going to watch and hope to get some bargains.

thanks
selkirk