Sunday, 13 November 2011

Canadian Oil Sands Position: Part II

Remember a couple weeks back when I sold my position in COS.TO by accident? Well the following day, the stock continued to rise and I was a bit disappointed that I was missing out. However, earlier this week, the stock took a dive and was actually lower than my previous entry point. Needless to say I happily picked up some shares for less than the first time around.

To be clear here - I got lucky; there was no way that I would have known what would have happened to the price in such a short period of time. I wasn't planning this move in any way shape or form. I still believe that buying strong companies with solid dividends and holding them to take part in their growth is a great plan which I intend to stick to. Flipping stocks is risky business and you may not even come out ahead of a solid dividend or index approach.

That being said... I'll take luck wherever I can get it (especially when it helps cover up my mistakes)!

-the Paperboy

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