October 17, 2013 Comments

Onwards and upwards (at least for today)

The S&P 500 gained 0.7% on Thursday and Toronto was up 0.6%.

Most of our stock picks were up. The biggest gainer was Toll Brothers up 4.4%.

Canadian Tire was briefly above $95 today but closed at $94.40 up 0.5%. I had mentioned I had an order in to trim at $95 but that order apparently expired before today. I thought about trimming today but did not. (Sometimes it’s hard to pull the trigger and sell when the stock is rising and that’s why automated orders to sell at a given price can work well.).

The Canadian Tire REIT should start trading within about a week and that could possible give us another few cents on Canadian Tire depending how the REIT trades. The next big news for Canadian Tire should be the Q3 earnings which not come out for a few weeks yet. I expect they had a good Q3 except that they will have unusual expenses for the REIT launch so the headline earnings number could look negative. Also Canadian Tire (like most stocks) will always tend to move somewhat with the overall markets and with economic news. Overall, I am not in any rush to sell but still, it may be wise to trim a little given the gains.

Leave a Reply

Your email address will not be published. Required fields are marked *