Portfolio Update: April 2010

Here’s the monthly portfolio update.

The TFSA is currently holding the following stocks:

(A Tax Free Savings Account is an account where your capital gains are exempt from taxes)

  • TSE:FVI Fortuna Silver Mines (Silver)
    o Average Price: 2.32  Value: 1000 x 2.28 = 2280.00$
  • TSXV:ATK Atikwa Resources (Oil & Gas)
    o Average Price: 0.08  Value: 10000 @ 0.09 = 900.00$
  • TSXV:REL Reliable Energy (Oil)
    o Average Price: 0.347  Value: 8000 @0.34 = 2720.00$
  • TSXV:IPT Impact Silver (Silver)
    o Average Price: 1.083  Value: 5000 @ 1.20 = 6000.00$

Market Value: 11900 + 130 in Cash = 12030$

The Non-Registered account is currently holding the following stocks:

  • TSE:FVI Fortuna Silver Mines (Silver)
    o Average Price: 2.34  Value: 2800 x 2.28 = 6384.00$

Market Value: 6384 – Margin Used: 500 = NET: 5884$

BTI Portfolio Value: 17914$

YTD Results from January 1 2010

TSX at start: 11866 @April 30: 12210 Change: +2.89%

BTI at start: 12936 @April 30: 17914 Change: +38.48%

M/M Results from April 1 2010

TSX at start: 12151 @April 30: 12210 Change:  +0.48%

BTI at start: 15210 @April 30: 17914 Change: +17.77%

Monthly Review

Looking at those numbers I must admit that April has been a great month. I had the opportunity to execute several profitable trades and the TSX closed in positive territory last week. It looks like the Greek saga is fueling a surge in precious metal prices. If this is the case, I look forward to Impact Silver increasing substantially since I still consider it lagging Silver prices for now. I have to admit also that I went overweight with Fortuna Silver. By Q1 2011 Fortuna Silver will be trading north of 3$ a share once their new mine comes online but until then I would have missed many other opportunities. The plan is to trim Fortuna, at no loss if possible, from the TFSA account and redeploy into another trade.

Given the market jitters I always kept margin use to a minimum. I could have potentially booked more profits if margin was maxed out but I prefer risk control to outright gambling. The results are OK, they could have been better or worse and there’s no guarantee that this kind of return is repeatable month after month. Matching April’s performance won’t be easy but it’s beating the market that counts.

How has your portfolio done so far this year?

Related posts:

  1. Portfolio Update: May 2010
  2. Portfolio Update: June 2010
  3. Portfolio Update: March 2010
  4. Portfolio Update: August 2010
  5. Portfolio Update: October 2010