Monday Morning Review

Some reviews of Preferred Shares recommended on Thursday AM July 30^th (6 trading days):

BMO.PR.L $24.95-25.00 (+ex dividend of $0.3625)

RY.PR.D $19.68-20.19

RY.PR.X $27.68-27.83

SLF.PR.A $19.00-20.15 (+6.05% !!!)

SLF.PR.B $19.25-20.32 (+5.56% !!!)

Common Share recommendations of Thursday AM July 30^th:

NXY $21.57-23.11 (inter-week high of $23.57)

TLM $16.27-17.09 ($17.28)

CNQ $61.75-64.58 ($68.54)

ECA $55.75-56.62 ($58.92)

SU $33.32-36.32 ($37.30)

POT $100.36-105.20 ($109.53)

AGU $48.22-53.38 ($53.95)

CNR $50.11-54.77 ($55.00)

RIM $82.37-83.61 ($86.28)

Some trades I completed this past week :

CNQ: Sold @ $66.86 (cost $62.49 over 5 & 7 trading days). Repurchased @ $64.89. M-in-Law’s RSP.

POT: Sold @ $107.55 (cost $103.58 over 3 & 8 trading days). Repurchased @ $105.53. M-in-Law’s RSP.

NXY: Sold @ $22.95 (cost $21.75 over 10 & 11 trading days). My RSP.

NXY: Sold @ $22.98 (cost $22.05 over 10 & 11 trading days). My wife’s RSP.

NXY: Sold @ $22.92 (cost $21.89 over 5,9,10, & 11 trading days). M-in-Law’s RSP.

Other recommendations and trades: In the last blog I mentioned to keep an eye on Manulife (MFC) and Sunlife (SLF) to purchase upon potential stock weakness. I never could have imagined the type of stock weakness that occurred ! Manulife cut its dividend in half and the stock suffered a 15.5% weekly drop in price. Sunlife suffered only a 9% weekly drop. I considered that to be a signal to make a small move into both stocks and purchased them in several accounts at the following prices: MFC: $23.52, 23.32, 22.44 & 22.33. SLF: $34.75, 35.29, 32.86 & 33.16. As I only made small purchases, I can buy more to reduce the overall cost in the accounts where I purchased them at the higher of prices. In particular I’ll recommend Sunlife to be bought on weakness this coming week noting that the company did not cut its dividend. Other specific recommendations based upon stock weakness continue to Canadian Natural Resources (CNQ) and Potash (POT). I’ll try to follow up later this week with info on US corporate bonds and some peculiarities on how corporate statistics are reported by different news and investment organizations. Keep cool, stay calm and look for opportunities. Good luck, Warren.