Ok, back to money matters..
I’ve sort of strayed from my financial blogging lately.. for that I apologize in case you were curious.
I guess the reason that I’ve not posted much, is that I’m actually not DOING much. The markets for some mysterious reason keep going up, and for the life of me I’m waiting for a bit of a correction to occur. There is just too much uncertainty to keep it moving forward in my opinion, what’s going on down there with our neighbours to the south anyhow? To think a few months ago in March the TSX index was under 8000 points, and it’s now hovering around 11500 at the moment..well, that’s a pretty darn good recovery if you ask me! Of course, you’d only realize those nice 40% returns if you invested at the bottom (which I realize no one did as they were way too busy watching their account balances dwindle)
I can tell you that I have once again begun to trade with CMC Markets… I can’t help it. I’ve given up poker for the most part, there’s something about the ‘knowledgeable gamble’ that really attracts me, and the leverage and ease of use for CMC Markets really attracts me. I’ve been playing Oil Futures almost exclusively as I really like the way it moves, and as long as I don’t hold over major announcements (such as crude inventories, etc).. the CRAZY swings aren’t as common.
The good news is that since I’ve put in $1000 not even a month ago, my balance is now at $1600 and that’s after cashing out $115 after about 2 weeks. Hmm.. 75% since the 18th of August. I’ll take that thank you very much.
I still own DRYS in my long-term account, which is kind of nice since it went up around 8% yesterday alone, nothing spectacular going on, so I will likely do another Buy/Write strategy soon if DRYS keeps moving up.
My Smith Maneuvre is still up in the air. I need to sit down and figure out what I’m going to do with the money that I’ll be borrowing to invest… I have close a lot of money that I could put somewhere however I’m trying to decide the best way to go long-term. I wouldn’t be opposed to a no-load (no fees/commissions) mutual fund, however I’m starting to debate that it’s going to give me the returns I want. I guess a fella has to get off his ass and do something about it if he wants to start soon. I still love my idea of putting $500 a month into one equity/mutual fund/etc.. in order to dollar cost average. There are lots of people that don’t like this strategy, but I think it’s a solid way to invest. What’s the harm in trying anyhow?
In the meantime, trying to decide how to purchase a new car for Liz.. will post about that soon.. Lease vs Own vs Used vs New.. GAH!
