February 3, 2016

With a late in the day rally, the S&P 500 finished Wednesday up 0.5% and Toronto finished up 1.2% as oil rose 9.6% and the Canadian dollar roseĀ  1.32 U.S. cents or 1.9%.

Regarding the RioCan preferred A share that will be deemed at $25 on March 31: I sold my shares today for $25.11. If you hold on, then they will automatically be sold out of your account on March 31 for $25.00 but you will then also get one last dividend of $0.328 per share. Those who wish to redeploy the money will likely be inclined to see now.

I also reduced my Canadian Tire holdings today. I had sold most of my Canadian Tire quite some time ago but held on to some that was in a taxable account. It may continue to do well but I am wondering about the impact of the sharply lower dollar. Also with the markets being so volatile this gives me some cash for possible buying.