Aug 23 2008
Weekly rundown:
These past two weeks have seen many stock recommends run through. How are they doing? Well, let’s take a look at a few:
ARG: Buy under 58.50 if possible, but you can settle for 59 if you want to get in on it. It’s been going up.
WIN: It’s going down a little bit but should see a bottom. The nice dividend will prop up profitability while it turns around to run north. If you buy under 11, you can sell out probably around 14 and do well. Stocks like this usually run up before the ex date.
ERF: This is the time to buy them. Sell out at 48. Remember, their return is muted by the new tax law in Canada. If you don’t want to deal with that, don’t buy them.
BPT: Here’s the clear winner. I recommended the grab at $79 or a bit above. Thursday it closed well above $90. If it blitzes up past $110 in a short time, take profits. Otherwise, hold and enjoy the dividends while it grows.
FRO: It’s hard to say if it has found its total bottom or not, but it is probably in the area. Grab now if you wish at $56 with eyes to review for sale at $83 down the road with good dividends in between. They had a great quarter and always reward shareholders handsomely. Their dividend should be announced with an ex date in September.
RBS: I recommended a buy in $4.22. It’s down now to $4.02. Martin Weiss is insinuating that another big bank will fall soon. That will kill this shareprice. If you can’t stomach the drop, sell. If you can, remember it does pay a handsome dividend a couple of times a year. But that’s only if it is making money. I’ll probably put in a sell at $3.80,
CALM: I got nervous at $47 and recommended that you sell. Good for me, because yesterday it closed at $41.96. It’s a little higher than the five day low, but not enough for me to believe it is a good grab now. Wait, and if it gets good, I’ll bring it up again.
MMM: Obviously it wiggling around and trying to find its bottom. But if you have bought in, don’t panic. It has a perfect up and down chart pattern. Put in a stop loss at $65, and take profits if it gets over $92. Patience, patience.
GLD, SLV: It’s just now starting to run. Be patient, steel your nerves against wild swings.
OIH: It’s swinging upward this past few days. It iwll be a good long term hold.
PCU: If you think copper is going up and you want to be a part of that, you’ll be happy to know that PCU turned around and started back up.
ESEA: On the 11th, I recommended ESEA for $11.90. Today it closed a dollar higher. It has quietly been creeping up. It has an ex date on the 3rd for a very nice dividend. Oil transportation is out of favor right now. Wait to sell until it hits $16, and that could be a while.
Next week, we’ll check on a few more. Now go out and have a good weekend.
