I bought 1,000 shares of Arcan Resources (TSXV:ARN) at $3.78 in my HELOC account.
I also bought 500 shares of Whiterock REIT (TSE:WRK.UN) at $12.50 in my HELOC account.
Stock Trade Commentary
What a great day to be a buyer today. Deploying margin should be methodical and not all at once given the volatility that we are going through. If youve been following this blog, you know that I am a happy buyer when the dumping is on. These are days where many DIY investors discover their real tolerance for risk and their strength to withstand seeing red in their portfolio without going into a panic selling spree taking major losses.
Ive been waiting to buy WRK.UN for a while and I got a good price for my order today, it was not the best given the low of the day but very good nevertheless. WRK.UN offers a high quality portfolio of office, industrial and retail properties in major Canadian markets so many thanks go to the investor who dumped his shares. Now please tell me, will WRK.UNs rent income dry out tomorrow due to the nuclear crisis in Japan? Of course not! WRK.UN can be considered a longer term hold as it pays close to 9% in monthly dividends on my entry price.
Arcan Resources, long time no see(not!) since the last time I held ARN was when I bought it in November at $4.51 and sold it last December at $5.74 for a tidy profit. It is one of the few trades where I was able to sell very close to the high of the year before it gets infected with the sacred cow syndrome. Now whats wrong with ARN to justify it trading at this level? Maybe the market doesnt like the fact that its making more money on its increasing LIGHT OIL WEIGHTED production(sarcasm alert). At $3.78 its a good entry price for a quick flip if I feel like it. Market action will dictate further buying and selling operations.
How are your nerves doing today dear readers?
