March 4, 2014 Comments

I think most of us were surprised to see such a strong market on Tuesday with the S&P 500 up 1.5% to 1874 and another new record close. Toronto was up 0.5%.

Most of our Buy rated stocks were up including American express up 2.9%, Element Financial up 3.0%, Bank of America up 2.6%.

I saw a notice today from TD bank for another five year rate reset preferred share. This one at 4.4% from Enbridge. I grabbed some of that for the kids RESP account as I figure it is an alternative to holding cash.

I am basically holding tight with my positions at this time though with an order in to buy some Melcor a little under $20 and a rather unrealistic order to buy Toll Brothers if it falls to $34. I wondered today if I should trim some more Toll Brothers. Many of my moves to trim positions in the last year have not worked out that well as the prices continues to rise. Although I believe some have where there was more volatility and where I bought back later at lower prices. A strategy of trimming gains can work better when the market is a bit more choppy, which it inevitably will be at some point. Also in some cases while I trimmed and did not buy back I may have made good investments with the funds received. I don’t track all that detail (and it might not even be possible to do so) but I do know that my account is up quite nicely (at 3.7%) in the first two months of this year and so certainly I can’t complain.

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