Friday was a flat day on the markets as the S&P 500 was down just 0.1% and Toronto was about unchanged.
Costco was up another 1% to $482. Earlier today I saw it was at $484 and decided to sell what amounted to 1/6th of my shares. I still have a reasonable allocation to Costco. I may well come to regret selling such a wonderful company. But this allows me to harvest some gains and build cash. This was in an RRSP account where tax is not an issue and I would not mind buying these shares back at a lower price later. The question now is are these shares getting too far over-valued? Are people buying them just becasue they have risen lately? Much is going to depend on interest rates. If rates stay low then maybe 41 times trailing earnings and 38 times forward earnings for such a high quality company can make sense.
CN Rail was up another 2.0% to $167. My rating just ten days ago (before the Q3 earnings report) was Weak Buy / Hold at $144. So now at $167 I am certainly tempted to harvest some recent gains here. These decisions are always tough.
AutoCanada was up 4.8%.
Shopify was down 4.7% – which is perhaps a reminder than any stock can have its down days.