by Arnold Joe
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Sometimes it’s better to lucky than good
Last week I got lucky with my call options on BCE Inc. (T-BCE, N-BCE) as I sold my position, just before they expired on May 17th. With the options I had the choice to either sell the position and take profit or exercise the calls and take delivery of […]
My call options on BCE Inc (T-BCE, N-BCE) would have expired tomorrow, so I sold the positions and took profit rather than exercising and taking delivery of the stock. The C$36 May calls that were bought for $0.50 were sold for $0.80, resulting in a 60% profit. The U$30 May calls that were […]
Stock Portfolio Changes:
I bought Quadra Mining Ltd (T-QUA, copper producer) at $26.09 after it released some good quarter end numbers ($1.38 adjusted EPS). If the earnings are extrapolated out for the year, it works out to a very attractive P/E ratio of less than 5. There were some upward pricing adjustments to the Q4 […]
Economics:
Canada’s employment added 19,000 in April but saw its unemployment rate climb to 6.1% from 6.0%. Details were on the weak side as the important manufacturing sector lost another 15,000 jobs and the private sector lost another 8,000 positions. Most of the new jobs were in the self-employed and services industry which tend […]
Interest Rates:
Bank of Canada did as expected and cut interest rates by 0.50% Analysts are still expecting at least another 25 point cut at the next meeting.
Commodities:
Crude oil was up again setting another record high at $119 a barrel. China reported that Angola overtook Saudi Arabia as the top supplier of oil in the […]
