Put in orders last night but then decided at lunch time to buy at market on some of the stocks that I like.
picked up Canadian oil sands at $19.50, Scotiabank at $29.70 and Hudbay minerals at $3.26 ... this covers what I want to hold from an oil and base metals perspective. Still underweight on banks, want to add a few more bank stocks, want to add gold but it's still not getting to my target buy range. Not planning on buying technology (except Apple on weakness) or pharma/biotech unless I see an opportunity.
Want to pick up some alternative energy company with the direction that Obama mama is heading towards, but the problem is unless credit loosens up or govt does something to spur investment, it's going to be stagnant for a while because oil and gas prices are so low, alternative energy becomes relatively more expensive.
Things that I am not touching - high debt companies, auto sector, non-dividend paying companies.
To clarify one thing, my trading portion is about 30% of my total investments - 50% funds, 20% real estate..... don't want people to think that I trade 100% of my portfolio.
In terms of funds, I am right now in resource fund and canadian equity fund. Will wait in these funds until the recovery happens even if it takes 3 years.
Good luck to all.
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