New Post?

Well its about time.

My trading has pretty much been as my blog. Watch and do nothing. Well not exactly, but close.

First off updates regarding trades. My watchlist of CGS, TDG, and AKT.a has done well. The 2 have gone up nicely, both paying dividends along the way. CGS has continued down into the abyss however. I finally got around to buying when i saw other insiders picking up shares around $5. My cost is $4.05. I only bought a few so i can average down if it falls below $3.

I also bought CLCT for $9.75 and PNSN for $12.

I now have a Questrade account set up and its fees are ultra low. So i started buying when i completed that and closing my CIBC edge account.

I still hold BVF and collect the dividend. My average cost after dividends and protective puts is $14.40. I have some outstanding calls (is this a reocurring theme or what?) which expire in June. I hope the new share buy back will help the price up. The board is up for nomination 2 days after my options expire so if they like their jobs they should use the buy back to get the price up some!

MTE-N is a new addition among others to my watch list. Indian telco thats really cheap! The ADR has been hit by falling rupee relative to the US $.

My option trades:

DML: ended at $7.53 when its April option expired. I showed a profit for that of $0.45 which works out to be 5% in 3 months. Also noted was the large volatility and with this written call my max loss at any time in the 3 months was only 3.7%. Seems like this trade went ok.

TLM: very different trade result here. Stock wasn't taken, which turns out to be a good thing. You had downside protection so when the call expired in March the trade was only down just over 1%. BUT right after that the shares have jumped so this trade worked out ok too.

I am really kicking myself right now because i should have been writing calls on BVF for the past few months!

I still see pharmaceuticals cheaper compared to many sectors. KG in the US may now be showing progress.

If only i had bought TCK.b calls in Jan. Wow did that company go on a ride for the past 6 months. Too bad so sad.


One final note: If the wife would let me i would love to load up on CGS shares below $3. I will buy more, but not with the house equity of almost 100k that i was jokingly threatening to use.

DH