One week ago Friday had my latest shareclub, these are monthly gatherings.
everyone talked abot their losses and some gains not to many. some trades worked but most long positions were off down. a little surprised that some did not have stops, or buy puts (though they are expensive, now).
talked about one option trade that worked out well and spent more time on a large mistake I made. on thursday morning before the meeting bought UYG near the open and close to the high. this was for a small amount, but still a mistake. espcially when I stated was not interest in the double etf unless it was less the $9. bought some beliow 9 it is 8.25. in a bear market must learn patience and not chase, it is better to put really low ball bids in than it is to chase.
someone in the club gave points to why he was bearish on mining stocks and especially on TCK.B, TCK Teck. he made several good points, must point out owned the stock, though had a loss.
he also broke down the fording deal, he was correct and on the following monday sold tck, which saved me a great deal of money. still lost on the stock however it broke down from 18cdn. to below 13. even went to 12. this play will add to profits, however if met coal prices fall then they will be in big trouble, and may have to cut the dividends.
at this point in time would rather look in base metal stocks with far less debt and no chance of cutting their div. also copper has fallen below $2. so this is trouble to tck. this company during good times could be worth 60, however if this gets worse then tck goes from 13cdn. to 8cdn. or less... so will watch for now...will look at it again if it breaks above 18 and copper rebounds.
went to the hospital, or my walk in clinic, anyways just had a bump on my back, they told me it is not cancer, was happy and next month it will be removed so will just have a few stitches. have not found anyone who is more terrified of clinics or hospitals, than myself.
not sure why; do not fear death, maybe just long illness, or people wasting aways, know many doctors and nurses however could never do their job believe my bloood presure and stress level increases within 10 min. of being there....
only spent one night in hospital in my life and hope to keep that number low forever.
may sound dumb but would prefer to be in a buring building than a hospital, (note: volunteered for two years at the local volunteer fire department, however only fought around a dozen fires, the training was harder in most cases. anyways enjoyed that more than visisting a doctor.)
in this market going to show more patience and put in low bids. also wrote uncovered calls on the 25% of my energy portfolio still hold. and some other stocks. not bad $1-$3 dollars for 1-3 month options that are 40-50% out of the money.
happy investing and do not chase, or you will lose money liike I did in the UYG trade. still like it just will build position more slowly and at much lower prices.
thanks
selkirk
everyone talked abot their losses and some gains not to many. some trades worked but most long positions were off down. a little surprised that some did not have stops, or buy puts (though they are expensive, now).
talked about one option trade that worked out well and spent more time on a large mistake I made. on thursday morning before the meeting bought UYG near the open and close to the high. this was for a small amount, but still a mistake. espcially when I stated was not interest in the double etf unless it was less the $9. bought some beliow 9 it is 8.25. in a bear market must learn patience and not chase, it is better to put really low ball bids in than it is to chase.
someone in the club gave points to why he was bearish on mining stocks and especially on TCK.B, TCK Teck. he made several good points, must point out owned the stock, though had a loss.
he also broke down the fording deal, he was correct and on the following monday sold tck, which saved me a great deal of money. still lost on the stock however it broke down from 18cdn. to below 13. even went to 12. this play will add to profits, however if met coal prices fall then they will be in big trouble, and may have to cut the dividends.
at this point in time would rather look in base metal stocks with far less debt and no chance of cutting their div. also copper has fallen below $2. so this is trouble to tck. this company during good times could be worth 60, however if this gets worse then tck goes from 13cdn. to 8cdn. or less... so will watch for now...will look at it again if it breaks above 18 and copper rebounds.
went to the hospital, or my walk in clinic, anyways just had a bump on my back, they told me it is not cancer, was happy and next month it will be removed so will just have a few stitches. have not found anyone who is more terrified of clinics or hospitals, than myself.
not sure why; do not fear death, maybe just long illness, or people wasting aways, know many doctors and nurses however could never do their job believe my bloood presure and stress level increases within 10 min. of being there....
only spent one night in hospital in my life and hope to keep that number low forever.
may sound dumb but would prefer to be in a buring building than a hospital, (note: volunteered for two years at the local volunteer fire department, however only fought around a dozen fires, the training was harder in most cases. anyways enjoyed that more than visisting a doctor.)
in this market going to show more patience and put in low bids. also wrote uncovered calls on the 25% of my energy portfolio still hold. and some other stocks. not bad $1-$3 dollars for 1-3 month options that are 40-50% out of the money.
happy investing and do not chase, or you will lose money liike I did in the UYG trade. still like it just will build position more slowly and at much lower prices.
thanks
selkirk
