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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.
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:
the price of oil is driving the economy. I find it ironic that when the price/barrel spikes high (over $110/barrel)... the market suffers and when the price spikes low... the market suffers for different reasons.
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
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
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
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
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
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.
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.
this is my announcement for Redknee Solutions Inc [TSX:RKN]
so I logged on this morning and this was the opening intra-day chart
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....
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
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.......
I will be watching closely at the beginning of the trading day
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
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.