Markets are down this morning. This is despite oil holding in at $43.43.
With Couche-Tard down 1.6% to $53.70 I have added 100 shares to my position. The shares are still relatively expensive but it is a company that seems worthy of accumulating on dips.
Bombardier is up 4.7% to $1.79. It’s basically a penny stock and is subject to significant volatility on rumors of sales or the hoped for federal investment. It’s tempting to consider reducing my relatively small position in this disappointing company.
Statistics Canada reported on airplane fares this morning. The average domestic fare was $175.70, down 6.3% from the same quarter a year earlier, while the average international fare edged up 0.2% to $341.20. To my, thinking $176 for an average one-way fare in Canada looks like a bargain. It looks cheaper than driving. When you consider all of the costs and regulations associated with an airline it seems obvious that flying people around for $176 is a very tough way to make a profit. If you disagree and think that fares are too high especially with the baggage fees then by all means buy some shares in Air Canada and WestJet. I have not looked at their figures but I am doubtful that either will be a good long-term investment.