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Underexposed - Canadian Stock Journal
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Underexposed - Canadian Stock Journal

  #601 (permalink)
Market Wizard
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Underexposed View Post
This is a weird market for a long term trader.... the rise and fall of the TSX is not conducive to long term holds... only swings as I see it right now.

Although weird, you have a good result and everything was done for sound reasons. More opportunities will come along.

Bob.

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  #602 (permalink)
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Mid-week status March 11


bobwest View Post
Although weird, you have a good result and everything was done for sound reasons. More opportunities will come along.

Bob.

Thank you bob.... this is an experiment for me and I am following it in real life too where I am about 80% in cash now in my Canadian holdings. I have never done this before and have typically just hunkered down and tried to ride out the bad times (losing a lot of value on paper). Selling like this nearer the top of a run makes a lot of sense now and it does not mean I won't be back into these stocks again in the future.

And you are right...opportunities are for the finding in any financial market.

Here is the current status of the portfolio

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Here is my chart for the end of the week


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The very slight rise in cash comes from the dividend from NorthWest Healthcare REIT. Not much but everything helps

I am still sifting through opportunity but in the Canadian market we get hit over and over again with the drop in oil prices... today is a case in point ... the drop to $45/barrel today puts on the brink of a drop to $35 if it breaches this support.

I described my thoughts on this in another post today here:

https://futures.io/stocks-etfs-trading/14649-market-indices-etfs-other-stocks-11.html#post482208

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  #604 (permalink)
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I well I think I have found a stock worth putting money into...... Redknee Solutions Inc. [TSX:RKN]

It is a software company.... they bought the Nokia-Siemans systems business, 5X the size of their previous business apparently and have had trouble adjusting to the conversion.... but that seems to be behind them now with improved financials .

Here are the charts

P&F Chart


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this is an ascending triple top which is quite bullish. There is a bit of a resistance at $4.25 but as you will see that is not serious.

the dotted red lines represent minor resistance that could trip up the forward progress but the serious resistance is higher up at $5.30... which if it makes it there would represent a 25% gain. Support is at $4.05


Trigger chart


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This is a pretty good looking chart. It is in the beginnings of a breakout now. The Slow Sto and MACD have looked good for the past month while in consolidation.... Now the BBwidth is sharply rising... Bullish sign.

the price has breached the 200 daySMA in the breakout and it fell back from an attempt at $4.25... which is ok because to complete that breach would have left it above the upper bollie and I would be worried about a pullback.

Sentiment chart


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this is a quite bullish chart... Force(100) is increasing... the RSI has increased its positive slope and the DI+/- is bullishly diverging.

Ichmoku chart


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Another bullish chart....we are high above the clouds with the thin blue line above the red at a high slope. The Onbal Volume has increased an already positive slope and the CCI has returned to bullish

Conclusion

These charts could not be more bullish. I will make a purchase and watch it closely.... it might be only a short term swing or develop into something longer...who knows at this point

On Monday March 15, I shall place a Buy order for 3000 shares at a limit price of $4.17/share I will place this order about 15 mins after the bell and may get it a bit cheaper if it falls

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this is a stock on my watch list.... Toromont Industries Ltd. [TIH:TSX]

this is a head scratcher.... a company into heavy equipment sales and the only Caterpillar dealer in Ontario.... Apparently its biggest customer sector is mining....specifically gold mining.... these are depressed markets but as you can see from the charts below it has been rising like an Energizer Bunny.


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The trigger chart looks ready to trip but the MACD is falling so that causes caution within me... the slow Sto is fine though. The BBwidth took another leap down.... the direction will be revealed before the end of the week.

Just a watch at present

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Underexposed View Post

On Monday March 15, I shall place a Buy order for 3000 shares at a limit price of $4.17/share I will place this order about 15 mins after the bell and may get it a bit cheaper if it falls

this is my announcement for Redknee Solutions Inc [TSX:RKN]

so I logged on this morning and this was the opening intra-day chart


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You can see the stock opened at the same value that it closed at $4.15 at decent volume of about 13,000 shares ... dipped to $4.14 and rose again so I will assume my order was filled at $4.15 for 3000 shares of RKN.TO

So now I have a stock portfolio again... more stocks to come....

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Mid week status Mar 18

Here is the status this week so far


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Redknee Solutions [RKN.TO] is doing quite well, as expected from the chart previously shown.

The price of Gold took a jump today as can be seen in the following chart


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I am seriously considering the purchase of Lakeshore Gold yet again... it jumped nice today... if gold rises again like this LSG.TO will take off.......


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I will be watching closely at the beginning of the trading day

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Ok...I did buy LSG.TO... I just posted it in the wrong Journal.... I posted it in my American journal {sigh}

Here is a copy of the post from the other journal


Quoting 
Ok ... I'll admit it... I have yellow fever...Gold that is.

I have played this sucker so often but only recently have I made money on it... I think playing it for a shorter term in the key.

First of all Gold is on a bit of a surge as can be seen in the following chart


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It is about time in my opinion for a turn around in this metal... It did not reach recent lows and has shot back. This Hourly chart shows the turn around... I can see it falling back when it hits $1200/oz but I believe it will be at least testing that area.

Here is the Point and Figure on Gold EOD prices


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Here you can see the resistance barrier I see before it's rise from $1190 - $1205... if this were a stock I would say the effort was not worth it... However we are not investing in the commodity... we will be investing in a volatile stock that performs well to a rising gold price.... Our friend LakeShore Gold [TSX:LSG]


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Well here is the P&F on LSG. This is not a perfect Resistance/Support range.... there are minor resistances before that line but I think they will easily fall if Gold rushes to $1200... so if we grab $0.07 on a swing trade in the next week or so.... that is a 7% gain.... if gold carries on past $1200 we will see more gains


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The Slow Sto and MACD look fine... the BBwidth has not turned down yet... it is thinking about it. If it turns down that is ok...we would be in consolidation and the Slo Sto and MACD look fine.... Similarly if the BBwidth rises... with the slopes of the other 2 indicators rising that would be a breakout.... also good

The only problem would be a downturn in the Slow Sto and MACD... then we are out of the pool.... you see us stumbling between the 50 and 200 SMA.... that is good IMHO it will hold the price til I finish this post


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the Force (100) is rising as is the RSI... the DI +/- looks promising too.

Conclusion

Here is the current L2 chart


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I believe the price will fall as the MACD is showing a fall.

I am going to purchase 10000 shares of LSG.TO at $1.04/share in a limit order


EDIT...10 mins or so later


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As you can see the share price fell to $1.04 a couple of times in the last 10 mins ( this is on 3 min avgs...)

So the order is assumed to be completed.

There that is put to right....

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Ok.... I guess I was excited about gold when I posted that last discussion in the wrong place...hahaha

Well things seem to be coming around a bit the downturn starting in Feb appears to be leveling off to me so I will be revisiting old favourites and looking for new opportunities... It is a bit more difficult for Canadian stocks as I don't have that StockFetcher.com query site to work with as I do in my American thread (man that was a sweet way to get underway there...I wandered around like Moses in the desert in the 2 months prior to using that tool )

We are back on track to profitability now as can be seen in the status below


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The addition of Lakeshore Gold may be a swing trade or a home run.... hard to tell at this point... but I am looking for about a 5-7% gain in the next couple of weeks.

Good trading

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