dismal performance

Sometimes it is better to do nothing than to do when it comes to investing. Many an article are written on us 'traders' who seem to think we can beat indexes and try to find a formula for it. Most lose to the index. I am 1 for 5 for beating the TSX (last yr i was up 20%+). Every other year i would of been better just to ignore the market. I have only been trading options for the past 2 years however.

Well by now you've figured while i don't have the formula i am not short on ideas and ways to try and find it. Biovail continues to dissappoint. The latest downgrade came yesterday and sent the stock tumbling down more than it went up the previous day.

I by now should have been placing more bets on different ideas. Two quick examples were rumours of BUD-N takeover by Inbev should have prompted me to buy a few calls or atleast sold some puts? Next I don't know what i was thinking in not buying BCE calls. The risk reward should of made for a nice trade. I saw Friday on NY exchange after the close BCE shares up almost 10% or $3.+ .

Now i don't mean to beat a dead horse here (especially at the sake of losing money) but pharma companies for the most part have been destroyed this year. All the big names are down, some more than others, yet they keep falling and the dividend yield keep rising. I need to start buying shares and writing calls on these. PFE, SNY, GSK.

Going forward in my Registered accounts i have continued to invest on dips (money goes in monthly to a money market fund) and have been upping my contributions to US and Overseas funds (much to my own demise).

Some US banks like BAC-N and maybe our own BMO look like possible call writing candidates right now? Attractive yields and suppossed 'ok' balance sheets.

Well little has changed for me. Options expired yesterday and lost another $500 or so on BVF calls. No new buys, but watchlist continues to grow. Trying to find good entry points right now is tough, because the market continues to falter (US) and it feels like good money is just being thrown after bad. I guess thats why investing should have long term objectives with disciplined entry points.

Next update when something exciting happens...

DH