January 21, 2013 Comments

U.S. markets were closed today for the Martin Luther King holiday. The Toronto stock exchange index rose 0.5%.

With Canadian Tire down 1.3% I added a small amount to my position.

Research in Motion was up another 11% to $17.41. Regrettably I had sold my shares on December 26. (It looks like I “cleverly” sold in the U.S. market since Toronto would have been closed that day). In any case, I cant worry about what I don’t own. There will always be many rising stocks that we miss out on. As long as we can make a good return overall, that is what counts.

Canadian National Railway is scheduled to release earnings at 9:00 am tomorrow (Tuesday). I don’t know why it would release only 30 minutes ahead of the opening of trading. That does not give sufficient time for the market to digest the news before the start of trading. It could indicate that there will be no big surprises in the numbers. I think it should have a good report. One area of possible concern would be its increased pension liability, but that will not likely flow into earnings. (I believe it will be reported in comprehensive earnings). The pension expense in 2013 will also likely rise. Overall CN will probably continue to do well.


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