Official Short-term Investments Thread

[Z_Fan]

Oh yeah, I also sold GE and MFC on Monday. More annoying things. Though on both of those I sold ahead slightly. But nothing like where they sit right now.

[broken_legs]

So that oil rally looks like its losing its legs here.

Oil is back to that trend line again... going down. If this line breaks again I'm buying HOD.

[sputnik]

Originally posted by Z_Fan
I did get in to HGU at 9.73 as well as another bit at 10.49. Hope it runs up to 13.00 here before Friday.

With gold struggling to stay about 900, I have a feeling you will see more $9 HGU before $13 HGU.

[KleanCord]

Originally posted by broken_legs
So that oil rally looks like its losing its legs here.

Oil is back to that trend line again... going down. If this line breaks again I'm buying HOD.

I'm not sure what you mean by going down. It has steadied itself at $45. It went above $45.50 despite poor data (imo) from inventory reports.

There is no more contango meaning oil demand is actually gaining, and oil has been above it's 50 day moving average for 11 straight days now.

Oil seems bullish to me right here, but like everything nowadays that could change a week from now.

[broken_legs]

Originally posted by KleanCord


I'm not sure what you mean by going down. It has steadied itself at $45. It went above $45.50 despite poor data (imo) from inventory reports.

There is no more contango meaning oil demand is actually gaining, and oil has been above it's 50 day moving average for 11 straight days now.

Oil seems bullish to me right here, but like everything nowadays that could change a week from now.

As i'm usually in and out several times in a day Im just watching the short term trend.


EDIT:
anyways im out now, gotta run to the rig

good luck

[KleanCord]

Originally posted by broken_legs


As i'm usually in and out several times in a day Im just watching the short term trend.


EDIT:
anyways im out now, gotta run to the rig

good luck

Oh, gotcha. :thumbsup:

[max_boost]

Taking bets here, will OPEC cut this weekend?

I say no......so that means you guys say yes right? :rofl:

[e36bmw///]

nm

[Canmorite]

They probably will...why not prop up the price? :poosie:

[Dinan]

oh wow,,, look at HSE,,, its gone DOWNHILL,,, why :banghead: i don't get it... suncor, PCA, IMO they are all up but HSE has it's own mind,,,, damn,...:facepalm:

[e36bmw///]

nm

[eljefe]

Originally posted by max_boost
Taking bets here, will OPEC cut this weekend?

I say no......so that means you guys say yes right? :rofl:

Are you on the edge of your seat yet? It looks like your HOD is coming on back!

[SilverRex]

let see gold did claw its way back above 905-906 if we can close above this area for the day we will see 925 in short order

now there has been talks if this rally is a dead cat bounce, while some suggest market can quickly retest the low or temporary push a new low but something tells me we could see a medium term rally to take place that will and can take DOW back to say 7500-8000 area.

then the real sell off will begin as DOW marches downward to 2000-3000 area.

oil is really interesting here, because if the DOW is to crash lower, then oil would be in trouble too right? well that will depend, but obviously oil trades at its own thing, look at yesterday's strong rally, where did oil go? it is difficult to look at the direction of oil, I can only say for oil bears, look at the current drop in oil price as a gift to get out.

even if oil does get to 30 or 20, is it worth it? you can tell anything under 40 dollar oil sparks buying. now if you believe in technicals, the next support is around 43 (after 44 did not hold), the daily chart still looks like a U shape bottom that can push oil back up at 43, next level is at 41.50-42 area, and I wont think oil is bearish until it ca take out the 41.50 area with ease, otherwise, any news, mometum can quickly yank oil back above 45.

unless your a intraday player. Currently oil is difficult to play. I will rather wait for the trend to emerge before jumping in. or if oil can make new lows and start thinking scaling long once again.

while gold looks like its holding its head above 900, I have a feeling we could see lower gold prices, just because if the market does rally very hard, this leg up in DOW will force gold to continue side ways if not sell into the 800s.

No panic yet, I still believe the worse is yet to come. look for gold anywhere between 800-875 as the ultimate bargin.

if your trading HGU, the 900 area puts it at around 11is which a few weeks ago I have suggested is a good entry point. By no means it is the perfect point. because when it comes to retracement, you get 3 levels, 38%, 50% and 62%, no one knows which level will support prices. if you translate that to the gold share index HUI that is 260, 240 and 220. Look ma, its bouncing off 260 twice. I will be scaling down and picking up more HGU if hui sells off into 240 and 220, then I sit back and watch the market do its thing

Many are suggesting gold is done. While I agree but only in the short term, we are headed into seasonal weakness, big US bank surpression and a coming short US rally soon if not already started. but we aint seen nothing yet for the metal. we havent even see the type of rise and performence it has known for. from 250 to 1000 is only 4x bro, I dont need to be greedy and hope it gives us the same 25x it did in the 70s, but thre is still upside within the next few years.

[e36bmw///]

nm

[lasthuzzah]

HOD BABY! Thank you MAX!!! Should I take my profits?? Or hold on?

But on a sad note, TR.UN, CRUSHED. Dividend cut. Sorry for anyone that listened to me.

DO NOT LISTEN TO MY ADVICE, except for the next part; Listen to Max. :)

[e36bmw///]

nm

[eljefe]

42.24

[e36bmw///]

nm

[SilverRex]

nice to see oil fall the way it did for a change

now short term the 41.5-42 area should hold very well, if your short I'll get out and wait for a pull back

[e36bmw///]

nm

[SilverRex]

^

well 43 area was the 1st retracement since the 35 low and 48 peak, so I guess alot of bulls are buying back anything at or below 43

[e36bmw///]

nm

[SilverRex]

^

it depends in the next 10 mins what oil is doing above or below 43, if 43 doesnt hold I think short term the lowest for april oil is in the 41s, but if 43 holds then we will test the likes of 44-45 again

[e36bmw///]

nm

[KleanCord]

The 50 day MA is at 42.39. We are really close to that level. It will be interesting to see how oil responds. My guess is, it is not willing to head back below it's 50 day.

One question I would have is if finishing the day at something like $41.50 would be considered crossing it's moving average. I don't think it does because the trading day range is still higher, but for anyone other technicals experts out there let me know.

If oil really does not want to crossover the MA then you can bet we break past $48 from here and it will be interesting to see how it responds at the $50 mark.

[DJ_NAV]

anyone make good coin off HOD today? i know i should have bought it at $25. :banghead:

[max_boost]

HOD still at $31. Remember, we are tracking 50/50 April/May contract right now.

lasthuzzah, 25% in two days is damn good. Your call bro.

My cost is $34 so you know I'm not going anywhere. Woulda, coulda, shoulda bought some at $25.

Based on my gut feeling and nothing else, I believe OPEC will not cut, and by next week we'll see oil at $35-37 and HOD will $40-43.

That's my final prediction. After that, I am out of HOD and taking a break from all this speculative trading. :rofl:

[RX_EVOLV]

i'm on the fence with which way oil will go. IMO it will go a little lower but not much reason behind that.

I think OPEC will cut but this time they might not actually follow through.

[Dinan]

Originally posted by KleanCord
The 50 day MA is at 42.39. We are really close to that level. It will be interesting to see how oil responds. My guess is, it is not willing to head back below it's 50 day.

One question I would have is if finishing the day at something like $41.50 would be considered crossing it's moving average. I don't think it does because the trading day range is still higher, but for anyone other technicals experts out there let me know.

If oil really does not want to crossover the MA then you can bet we break past $48 from here and it will be interesting to see how it responds at the $50 mark.

my friend, HSE is driving me CRAZY, lol..... i been hearing bad stuff about PCA, but look at it go almost $1 up today... and HSE was more then $1 down today at one point,,, damn i wish i never put all my money in, then i could have bought some at -$1.5 and everage down :( leasson for next time, always keep cash!!! :nut:

i hope OPEC cuts, so oil goes up, hoping that HSE will too, but it doesnt really go up when oil goes up, but when oil goes down so does HSE,,,,,:(

so why you think hse is not doing so good... i just don't understand...

[max_boost]

Dinan, relax. :)

HSE isn't going to pack up and cease operations tomorrow so you can rest easy alright.

[e36bmw///]

nm

[eljefe]

Originally posted by Dinan


my friend, HSE is driving me CRAZY, lol..... i been hearing bad stuff about PCA, but look at it go almost $1 up today... and HSE was more then $1 down today at one point,,, damn i wish i never put all my money in, then i could have bought some at -$1.5 and everage down :( leasson for next time, always keep cash!!! :nut:

i hope OPEC cuts, so oil goes up, hoping that HSE will too, but it doesnt really go up when oil goes up, but when oil goes down so does HSE,,,,,:(

so why you think hse is not doing so good... i just don't understand...

Bank of Montreal lowered their guidance on HSE down from 36 to a target of 32 yesterday, also BMO cut HSE to Market perform from out perform at the same time.

[max_boost]

Tomorrow is day 3 of rollover. HOU/HOD will track 75% May and 25% April.

[e36bmw///]

nm

[max_boost]

Yeah but considering the contango is so narrow right now, any movement in April will be followed closely by May.

[Proyecto2000]

Originally posted by max_boost
Based on my gut feeling and nothing else, I believe OPEC will not cut, and by next week we'll see oil at $35-37 and HOD will $40-43.
That's my final prediction. After that, I am out of HOD and taking a break from all this speculative trading. :rofl:


If HOD hits $40, I will be super happy to gtfo out with a modest $4/share profit :D

[KleanCord]

Originally posted by max_boost
Dinan, relax. :)

HSE isn't going to pack up and cease operations tomorrow so you can rest easy alright.

Exactly. Dinan take it easy. It sucks when you have money tied up in it, but you need to have patience. This is called Good investments after all. Perhaps the name of the thread should be changed to Trading Thread or Gamblers Anonymous, but consider yourself as an investor.

Like I said before although the short term for Husky is somewhat lackluster, the long term standing of this company is better than most, if not all of the Canadian O&G majors in my opinion. Better connections to China, better dividend, less debt, great recent finds, so on and so on.

The short term is always volatile but if you looked on a yearly perspective I would guarantee you make a profit. In the meantime you technically get paid 4% to wait, if you can actually wait long enough to make a dividend.

Also if you are so desperate to get out, you should have sold today when it just briefly breached $27.60. Like I said it has strong resistance at it's former support of $27.50. It would take momentum, which it does not have right now to cross over. MACD has just put in a buy signal with the moving averages crossing over but it still does not have momentum.

PCA is doing nothing different. Understand that PCA is still trading in it's $24-$30 range. It has nothing to do with the company, because quite frankly I think PCA is one of the least likable of the major O&Gs at this point.

This is all technicals, not fundamentals. Just relax.



thanks for the update Eljefe, do you happen to have the report from BMO? I normally don't put much weight into analyst reports, but I always read them to see if they have legitimate points.

[lasthuzzah]

So should I have sold today? Oh well, couldn't/didn't want to get to a computer until now. :)

The saddest part of this trade is that I couldn't even tell you the price of oil except for what I read on this thread :(

:rofl:

[SilverRex]

can someone tell me if the beta Pro ETF 2x funds are TFSA qualified?

[max_boost]

^

Why wouldn't it be? I didn't know there were restrictions to what you can buy.....plus because it's TFSA, you want it to be super high risk. RRSP is where you want to play it safe!

[KleanCord]

Originally posted by Proyecto2000



If HOD hits $40, I will be super happy to gtfo out with a modest $4/share profit :D

Just be aware that inventories rose today and were worse (better for bears) than expected. So despite this you saw oil do what?

It stayed above it's 50 day moving average for the 11th straight day. Oil is starting to look bullish and is actually trending instead of trading.

Of course you may get lucky and OPEC may decide to not cut production which might make oil break below it's 50 day which you would probably then see it drop into the $30s.

Not to say that HOD can't hit $40 but I remember you were worried when HOD got hit bad just a few days ago. So tread carefully, and evaluate your willingness for risk and always trade what you understand.

[SilverRex]

are there any penelty or fees for the amount of withdrawals at any given time thru out the year?

like say I drop 2000 in there and decided to pull out 2000 a week later. would that be fine

[KleanCord]

Originally posted by max_boost
^

Why wouldn't it be? I didn't know there were restrictions to what you can buy.....plus because it's TFSA, you want it to be super high risk. RRSP is where you want to play it safe!

x2

That might not be a bad idea for TFSA.

1) One thing I am wondering is your compounded interest from your TFSA also non deductible.
2) Can you reinvest dividends from your TFSA and those newly reinvested stocks pay out nontaxable dividends.

Idea 1 being that if I keep accumulating 5,000 per year compounded might be the best option over 25 years.

Idea 2 being even better but I am doubting you are allowed to reinvest your dividend. You would probably only be tax free on your dividends from your initial $5,000.

Idea 3 is the speculative play. Might be the best, but what to put it into. I am really liking CBQ at this point on the TSX. But the 2x BetaPros might not be a bad idea either.

[KleanCord]

Originally posted by SilverRex
are there any penelty or fees for the amount of withdrawals at any given time thru out the year?

like say I drop 2000 in there and decided to pull out 2000 a week later. would that be fine

That is fine but for the rest of the year you can only put in $3000 more. I opened up a savings account intially put in $1,250 on Jan 1. Then found out you could not withdraw and change into securities. So now I only have 3750 I can put into my etrade one.

[KleanCord]

Okay so one more day positive albeit smaller gains than we earlier saw. I had a feeling that this would happen, because we have not had back to back big days for as long as I can remember now.

But the fact we finished positive after dipping negative was great. Now the media can hang their hat on 2 things.

1) They can continue to say the rally is somewhat worrisome due to the lack of gains today and that it is just a technical bounce. (My contrarian side likes this)

2) They can also say we have had two positive days in a row. (My human side like this)

The MACD is about to have a buy signal on the SP500.

We are still way oversold.

We are still well away from the moving average.


All this says to me a rally is still in the works. Tomorrow should be good. Usually the day after a big gain you would expect in a market of uncertainty to be lackluster. People wait on the sidelines to confirm if this is the real thing. Meanwhile the bears continue to fight back saying that it was just a technical bounce. Then slowly they start to exit their short positions and slowly you start to have value watchers and bottom pickers enter.

[SilverRex]

Originally posted by KleanCord


That is fine but for the rest of the year you can only put in $3000 more. I opened up a savings account intially put in $1,250 on Jan 1. Then found out you could not withdraw and change into securities. So now I only have 3750 I can put into my etrade one.

well I bought and sold a trade once in the TFSA that I have 2000, and I still have that money inside the account, so as long as I dont withdraw that amount I am fine?

I mean I thought no matter how much you withdrawn the max contribution can only go up by 5000 a year plus what ever you withdraw or is there a withdrawal limit per year?

[KleanCord]

Originally posted by SilverRex


well I bought and sold a trade once in the TFSA that I have 2000, and I still have that money inside the account, so as long as I dont withdraw that amount I am fine?

I mean I thought no matter how much you withdrawn the max contribution can only go up by 5000 a year plus what ever you withdraw or is there a withdrawal limit per year?

It is not so much a withdrawl limit. Think of it as a contribution limit.

In a given year you can put in a MAXIMUM of $5000. Anymore and you have to pay 1% per month in penalty fees.

So in your case you put in $2000, that means you can only put in another $3000 the rest of the year, even if you are recontributing that original $2000. It doesn't matter how much you took out. They don't keep a balance on the accounts, just a record of deposits.

[sputnik]

Originally posted by KleanCord


It is not so much a withdrawl limit. Think of it as a contribution limit.

In a given year you can put in a MAXIMUM of $5000. Anymore and you have to pay 1% per month in penalty fees.

So in your case you put in $2000, that means you can only put in another $3000 the rest of the year, even if you are recontributing that original $2000. It doesn't matter how much you took out. They don't keep a balance on the accounts, just a record of deposits.

When you take money out of a TFSA you get that space back to put more of the original $5000 into it in the following year.

A couple of scenarios.

TFSA #1

- Deposit $5000
- Investment grows to $6000
- Take out $3000
- You can put $7000 back into the TFSA next year.

TFSA #2

- Deposit $5000
- Investment grows to $6000
- Take out $6000
- You can put $10000 back into the TFSA next year.

[KleanCord]

Originally posted by sputnik


When you take money out of a TFSA you get that space back to put more of the original $5000 into it in the following year.

A couple of scenarios.

TFSA #1

- Deposit $5000
- Investment grows to $6000
- Take out $3000
- You can put $7000 back into the TFSA next year.

TFSA #2

- Deposit $5000
- Investment grows to $6000
- Take out $6000
- You can put $10000 back into the TFSA next year.

Are you stating this as fact? I had a different explanation given to me.

You have a MAX deposit amount of $5000 per year. If you deposit 5000 1 year, leave it or take it out, it doesn't matter, you can put in a max of $5000 next year. It doesn't open up space. That is the way I understood it.

TFSA #1
Deposit $5000
Take out $3000 (no taxes on the presumable $1000 you made)
Account now has $2000
You can put in $5000 next year
Account is $7000
That is fine.

TFSA #2
You take out all the money.
Next year you put in $5000
Account Balance is $5000.
You cannot put in $10,000 in a year.

[Canmorite]

The penalty for going over the $5000 is 1% on the over contributed dollar amount per month. So say if you put in $10,000 you would pay $50 a month on that extra $5,000 in the account.

Now, as long as you can take that money within a TFSA and open an online trading account (Stocks only, no margin) and make at least $50 a month you can cover the penalty incurred.

If you take it one step further and deposit $50,000 and pay a $450/month penalty, as long as you make that $450 a month you can break even.

This is where it gets interesting. Whatever money you make ontop of the monthly penalty you pay, can be withdrawn tax free and isn't subject to Cap. gains or taxed as income for intra day traders.

Although with that example you won't be able to go short (no margin) which a lot of traders do during the day. I wonder if you could open a margin account?

:devil:

[blownz]

Originally posted by KleanCord


Are you stating this as fact? I had a different explanation given to me.

You have a MAX deposit amount of $5000 per year. If you deposit 5000 1 year, leave it or take it out, it doesn't matter, you can put in a max of $5000 next year. It doesn't open up space. That is the way I understood it.

TFSA #1
Deposit $5000
Take out $3000 (no taxes on the presumable $1000 you made)
Account now has $2000
You can put in $5000 next year
Account is $7000
That is fine.

TFSA #2
You take out all the money.
Next year you put in $5000
Account Balance is $5000.
You cannot put in $10,000 in a year.


^ you are wrong.

If you put in $0 for the next 10 years you will be able to put in 50k at that point.

[blownz]

Originally posted by sputnik


When you take money out of a TFSA you get that space back to put more of the original $5000 into it in the following year.

A couple of scenarios.

TFSA #1

- Deposit $5000
- Investment grows to $6000
- Take out $3000
- You can put $7000 back into the TFSA next year.

TFSA #2

- Deposit $5000
- Investment grows to $6000
- Take out $6000
- You can put $10000 back into the TFSA next year.

I actually understood it that you would be able to put in 8k or 11k in your two examples from what I read when I opened my account. I could very well be wrong though. :dunno:

[djayz]

The TFSA is such a simple account yet so many people can't seem to grasp what you can and cannot do with it.

First and foremost, any money made in this account over and above what you have contributed is TAX FREE regardless of what kind of gain it is, interest, dividend, capital gain, re-invested dvidend etc.

Second, as it sits right now the contribution limit per year is $5000 per year. This may go up to $6000 next year and so on.

Just like an RRSP you can contribute the amount once in each calendar year. Example you put in $5000 this year today, and you withdraw the same $5000 tomorrow, you now have to wait until next year to put that same $5000 back in.

If you do not contribute this year your contribution room gets carried forward. Example you put $1000 in this year, and the contribution limit for next year is $6000, you can now put $6000 + $4000(amount you didn't contribute previous year).

Now for the best part, if you put $5000 in today, and at the end of the year it grows to $12000, you can take the $12000 out end of the year say December 20th. When January rolls around you can contribute $12000 + the contribution limit for the next year.

Short example:
Put $5000 in January 2009
Amount grows to $12000 in November 2009
Total funds of $12000 withdrawn in December 2009
Contribution limit for 2010 is $6000
$18000 can now be contributed for 2010.

I have spoken to many professionals regarding this to see what exactly this account is capable of and this is it, there is no fancy stuff to this account its as simple as the name TAX FREE SAVINGS ACCOUNT.

[Proyecto2000]

Originally posted by KleanCord
Not to say that HOD can't hit $40 but I remember you were worried when HOD got hit bad just a few days ago. So tread carefully, and evaluate your willingness for risk and always trade what you understand.

all im saying is that I would jump for joy at $40 HOD and take the profit, however im also fine with taking a small $2-$4 loss but when it was in the mid 20's I was worried becuase it was a $10/share loss :(

but yea, this is the last time i mess with an ETF. Going to stick to normal stocks from now on.

[broken_legs]

RE: TFSA and 1% interest/month


If I put in 100,000 dollars and invest it all in options that double to 200,000 in 1 months time, does that mean I just made 100,000 Tax Free and the only payment required is 950.00 (1% of 95,000 over contribution) ???

And Further more, does that now mean that I can invest 100,000 Next year without penalty?

Because that would be sweet.

[e36bmw///]

nm

[Canmorite]

Originally posted by broken_legs
RE: TFSA and 1% interest/month


If I put in 100,000 dollars and invest it all in options that double to 200,000 in 1 months time, does that mean I just made 100,000 Tax Free and the only payment required is 950.00 (1% of 95,000 over contribution) ???

And Further more, does that now mean that I can invest 100,000 Next year without penalty?

Because that would be sweet.

That's what I'm trying to figure out haha. Not sure if there's going to be a limit on amount of trades per quarter or day, or some kind of limit on what accounts can be opened throug a TFSA.


Scotia iTRADE's Tax-Free Savings Account (TFSA) is a flexible investment account that allows you to invest in eligible investments without paying taxes on the investment income you earn within the TFSA.*

Contribute up to $5,000 each year
Choose from a wide range of investments including equities from $6.99 FLAT1, over 3,200 mutual funds3 and ETFs, fixed income

Investment income (interest, dividends, and capital gains) earned in your Scotia iTRADE TFSA is tax-free*

You can withdraw money from your TFSA for any reason, and all withdrawals are tax-free*


https://www.scotiaitrade.com/splash/TFSA09.shtml

[Canmorite]

Can't delete.

[Dinan]

Originally posted by eljefe


Bank of Montreal lowered their guidance on HSE down from 36 to a target of 32 yesterday, also BMO cut HSE to Market perform from out perform at the same time.

im with BMO too and it says...

BMO Capital Markets1 \/MARKET PERFORM 10 Mar 2009
BMO Capital Markets1 \/$32.00C 10 Mar 2009

use to be

Scotia Capital 1 /\SECTOR PERFORM 06 Jan 2009
Scotia Capital1 \/ $32.00C 06 Jan 2009


it still has the 5 star Globeinvestor Rating.....

so what does that mean???


yeah i'm relaxing, i'm just not in it for the long run, i thought it was a good buy at the momemt to make few @ per share,,,,

[SilverRex]

it is unfortunate that with the opening of the TFSA im under the 149 trade trading limit and so my fee is 29 a pop where as my other regular trading account is 9.99 :banghead:

[broken_legs]

Originally posted by SilverRex
it is unfortunate that with the opening of the TFSA im under the 149 trade trading limit and so my fee is 29 a pop where as my other regular trading account is 9.99 :banghead:

Do you use a separate broker for each account?

TD has all my accounts on one screen, Margin CAD, Margin USD, RRSP and TFSA. Same commission applies to all.

[djayz]

Originally posted by broken_legs
RE: TFSA and 1% interest/month


If I put in 100,000 dollars and invest it all in options that double to 200,000 in 1 months time, does that mean I just made 100,000 Tax Free and the only payment required is 950.00 (1% of 95,000 over contribution) ???

And Further more, does that now mean that I can invest 100,000 Next year without penalty?

Because that would be sweet.

That sir is correct, however I'm not 100% on options trading within the TFSA.

The beauty of it all is if you could hit the jackpot in this account you could basically put the money into a GIC and live tax free your whole life :eek:
I already know a few people who have taken the $5000 and added another $25000 or so and just trading for small sums of money like $2-300 a day. According to one of them the plan is to do it for a year, pull the money that was over contributed out and start all over for the next year with just the tax free earning.

I was originally thinking of doing this as 1 $300 trade covers the 1% fee on $30000, but I don't have that kind of cash and I probably couldn't even come close to making $300 a month let alone a day haha.

[max_boost]

So do they just deduct the 1% over contribution fee directly from your account every month?

[broken_legs]

Originally posted by max_boost
So do they just deduct the 1% over contribution fee directly from your account every month?

Probably owed through taxes.

[megafandrew]

Originally posted by DJ_NAV
^correct.
also when you buy shares like suncor, you try to see which other similar companies may provide better return too. but suncore went from 22 to 30in just a few days. dang should have got on it!

they are good damn shares though, better if you can get work there someday as they have special offers to employees (I have never worked directly for suncor but my dad has for 30 some years lol) his shares were at about 300g last time he checked as they get buyouts or something, I dont know but if they fall again ill be getting some ive done my research!:thumbsup: also all the time I worked there 2 years ago or so they hovered at about $80/90 average they will go up once the economy starts to repair, Voyager starts up again and new developements open after Milenium is used up. i dont know just look into it I find they do very well for gains and such in short periods of time

[SilverRex]

oil at 43.6 right now

watch out if it can get above and somewhat stay above 44 that would immediately become bullish

reason why oil got back above 43, because 43 was the 38% retracement from its recent surge from 39 to 48 plus on the over all chart, the 42-43 area is right at the trendline on the daily chart, you can say that was oil bulls's last stand

but I think there is upside and of what happen with oil above 45 makes me believe there is rally ahead. (if oil can re-enter 44 area)

but if oil does the opposite and goes below 42.35, then see you later oil bulls


since gold is very sluggish around the 900 area, gold isnt bullish unless it can get back above 923,
edit: gold just bounced off 907 sharply, hmmm some strength here, and if oil continues to push lower, is the market about take a nose dive?

[eljefe]

Originally posted by SilverRex
oil at 43.6 right now





edit: gold just bounced off 907 sharply, hmmm some strength here, and if oil continues to push lower, is the market about take a nose dive?

Gold last traded at 919 but the bid ask are 922/923

[997TT]

just bought 2500 shares of HGU at $11.45 and 1500 shares of HOU at $5.25

So much for not staying in HOU.

will be glued to the streamer this morning....lol

[eljefe]

Originally posted by 997TT
just bought 2500 shares of HGU at $11.45 and 1500 shares of HOU at $5.25

So much for not staying in HOU.

will be glued to the streamer this morning....lol

And Very quickly you are up 8 or 9 hundred bucks :clap:

[ExtraSlow]

Good change to the threat title.

[997TT]

HGU got up to $11.9X but now selling off to $11.83
gold almost broke $929

HOU still even ... i'm sure it'll tank now that i own it.

[Z_Fan]

^ I was gonna buy HOU, thanks for the warning 997TT.

I sold my HGU yesterday. So fuck me, again.

[997TT]

I have a stop in at $5.10. ... dont' want a repeat of what happened last month.

if i can ride HGU out for a $1/$2 i'll be thrilled.

[KleanCord]

Originally posted by djayz
The TFSA is such a simple account yet so many people can't seem to grasp what you can and cannot do with it.

First and foremost, any money made in this account over and above what you have contributed is TAX FREE regardless of what kind of gain it is, interest, dividend, capital gain, re-invested dvidend etc.

Second, as it sits right now the contribution limit per year is $5000 per year. This may go up to $6000 next year and so on.

Just like an RRSP you can contribute the amount once in each calendar year. Example you put in $5000 this year today, and you withdraw the same $5000 tomorrow, you now have to wait until next year to put that same $5000 back in.

If you do not contribute this year your contribution room gets carried forward. Example you put $1000 in this year, and the contribution limit for next year is $6000, you can now put $6000 + $4000(amount you didn't contribute previous year).

Now for the best part, if you put $5000 in today, and at the end of the year it grows to $12000, you can take the $12000 out end of the year say December 20th. When January rolls around you can contribute $12000 + the contribution limit for the next year.

Short example:
Put $5000 in January 2009
Amount grows to $12000 in November 2009
Total funds of $12000 withdrawn in December 2009
Contribution limit for 2010 is $6000
$18000 can now be contributed for 2010.

I have spoken to many professionals regarding this to see what exactly this account is capable of and this is it, there is no fancy stuff to this account its as simple as the name TAX FREE SAVINGS ACCOUNT.

That's actually a very sweet deal then.

I can't believe your account can grow by the amount earned. How many years does the carry over occur?

[Dinan]

Originally posted by 997TT
just bought 2500 shares of HGU at $11.45 and 1500 shares of HOU at $5.25

So much for not staying in HOU.

will be glued to the streamer this morning....lol

nice buy, everything looking good,,,,,,:thumbsup:

[djayz]

Originally posted by KleanCord


That's actually a very sweet deal then.

I can't believe your account can grow by the amount earned. How many years does the carry over occur?

Carry's over for life.
Example if you didn't contribute this year but you did for the next 2 years (2010 & 2011). In 2012 you will ideally have $5000 of contribution left from the year 2009.

[Canmorite]

Originally posted by KleanCord


That's actually a very sweet deal then.

I can't believe your account can grow by the amount earned. How many years does the carry over occur?

Pretty sure the carry over is indefinite.

Anyone looking at Suncor @ 30? Looks like a case of resistance turned into support.

[DJ_NAV]

^suncor ain't going up unless oil goes over $50 imo.

[KleanCord]

Originally posted by Canmorite


Pretty sure the carry over is indefinite.

Anyone looking at Suncor @ 30? Looks like a case of resistance turned into support.

Yeah I was talking about this a few pages back. Technically it broke resistance on high volume. But you could tell that the next day it still didn't move despite the whole market going and it was stuck at $30. This one is better left to the sideline until it indicates a movement. Prepare to buy if it goes to $31, if not just wait for it to fall to $24ish. Something to keep in mind is that although it was breaking resistance on the TSX it wasn't on the NYSE due to the USD strength.

I just sold off my Quadra Mining stock based on the resistance problem. It met resistance on huge volume, stayed there yesterday and then volume started to dwindle. I sold it and it immediately jumped over because of the spike in the market this morning. But now it is actually coming back down.

I already messed up on Agrium buying and selling it a couple of times and the last time I missed out on the break above, I just hope I didn't do it again with Quadra.

Also HXU is refusing to break above 9.20. If it does that would signify a double bottom and probably a short term target of 10.60 in my opinion.

[Dinan]

Originally posted by KleanCord


Yeah I was talking about this a few pages back. Technically it broke resistance on high volume. But you could tell that the next day it still didn't move despite the whole market going and it was stuck at $30. This one is better left to the sideline until it indicates a movement. Prepare to buy if it goes to $31, if not just wait for it to fall to $24ish. Something to keep in mind is that although it was breaking resistance on the TSX it wasn't on the NYSE due to the USD strength.

I just sold off my Quadra Mining stock based on the resistance problem. It met resistance on huge volume, stayed there yesterday and then volume started to dwindle. I sold it and it immediately jumped over because of the spike in the market this morning. But now it is actually coming back down.

I already messed up on Agrium buying and selling it a couple of times and the last time I missed out on the break above, I just hope I didn't do it again with Quadra.

Also HXU is refusing to break above 9.20. If it does that would signify a double bottom and probably a short term target of 10.60 in my opinion.

yeah i wouldn't be jumping on SU for a bit...... do you still have all your HSE, or you happen to sell some yesterday at 27.60 ?? still cant seem to stay above 27...... wow didnt see PCA hitting 29+... if i only bought that instead, lol....


i still dont understand, what will make HSE go up, cuz the price of OIL,NAT GASS, and even CRUDE OIL, was/is going up and still HSE can't seem to stay above 27.... i just find it odd, cause it always used to be int the 28-31 range, just befor i got into it with my last shares.... also IMO,PCA,SU, all are on or very close to their highs other then HSE..... im relaxed, hehehe, just trying to understand, whats going on..... :dunno:

the plan is now to wait till 27.70 or soo and take out 500 shares and wait if it goes down and average down.... if it doesnt then just my luck, hehehehe..

[DRKM]

BAC is crazy at the moment. Nayone have any from the $3.50 days?

[7thgenvic]

.

[e36bmw///]

nm

[DJ_NAV]

wtf just hpnd to HOD? it was -0.5 now its -2.30??WTF? in like 15 minutes.

[DJ_NAV]

^ Am I missing some news that just came out?

[lasthuzzah]

Sold HOD for 6xxx profit. No balls to hold on longer :)

[Dinan]

Originally posted by DJ_NAV
wtf just hpnd to HOD? it was -0.5 now its -2.30??WTF? in like 15 minutes.

oil just went up $2

[DJ_NAV]

^any reason?

[sputnik]

OPEC is rumoured to cut production

[Dinan]

Originally posted by DJ_NAV
^any reason?

who knows..... maybe cause everyone thinks OPEC will cut production on sunday.... :dunno:

[max_boost]

Read this: http://www.bloomberg.com/apps/news?pid=20601207&sid=aGCXwUPTVG2I&refer=energy

Sum it up


“GDP is going to determine the price,” said Yergin, author of a Pulitzer-Prize winning history of oil. “We’re now in the Great Recession, and that’s what the price reflects.”

It'll continue to trade in the $35-$50 range.

The SilverRex rule, HOU at $35 and HOD at $50. Anywhere in between, prepared to get slaughtered lol

Buy order set for $22 HOD at $50 oil. OPEC decides to not cut, we'll see $40 HOD and $35 oil next week. lol lol lol

[davidI]

Any idea why Opti (OPC) is up 25% today? Take-over talks floating out there or what!?

[max_boost]

TSX headed to 7,000, CIBC says

http://business.theglobeandmail.com/servlet/story/RTGAM.20090311.wrubin0311/BNStory/Business/home?cid=al_gam_mostemail


Deeper and longer recession expected for Canada and the US: TD Economics

http://www.newswire.ca/en/releases/archive/March2009/12/c8075.html

BTW, this thread needs to be renamed again to the 'Official Oil/Gold Speculation Thread' hahaha

[e36bmw///]

nm

[DJ_NAV]

doesn't the oil price go up everytime opec announces a output cut? i think we discussed that last time opec did their cut.

[DJ_NAV]

FAS is up huge too today... i havent bought any but watching it

[e36bmw///]

nm

[lasthuzzah]

WTF! HOD down 4 so fast? Time to buy again??

I will wait till tomorrow (never make 2 trades of the same stock in the same day!) :)

[SilverRex]

Originally posted by e36bmw///
jesus wtf is going on

up $4 so quickly

as ive said this morning the key area was 44, you can clearly see how when oil hit above 44 it broke a sharp trendline and the area at 43 helded.

it would been the place to go long but suicide to go short at those critical support/retracement/trendline levels and I also said unless oil can break below 42.0 area to confirm a trendline break. But the bulls wont allow that to happen, right now all EMA are crossed over to the upside meaning, the general theme for oil is buy on dips not sell on rallies like we use to seeing in the past few months

http://i278.photobucket.com/albums/kk118/genmaster/oil13.jpg

[sputnik]

Originally posted by max_boost


TSX headed to 7,000, CIBC says

http://business.theglobeandmail.com/servlet/story/RTGAM.20090311.wrubin0311/BNStory/Business/home?cid=al_gam_mostemail

I guess Rubin is hoping to be right at least once in his career.