A year ago tomorrow when the markets defied the long term norm and bounced in September I wrote A September to Remember. We are told September is historically the worst month of the year. Well, it happened again. It's looking like the norm isn't the norm any longer.
This year, the TSX began September at 11,913 and closed at 12,368 for a gain of 3.82%. South of the border things were even better. The DOW gained 7.77% while the broader S & P 500 shot up 8.77%. Wow!
Unfortunately, the gains of September 2009 didn't last long. The TSX tanked 323 points on October 1 and by month end pretty much all of the September gains had disappeared.
We're off to a much better start this month. As I write this, the markets have been open for less than 45 minutes and the TSX is up 74. Additionally, gold, oil and the US markets are all UP! It's all good....for the moment at least.
As reported on these pages, I made a couple of changes in my trading account in September. On September 2 I bought Research in Motion (RIM) at $46.49. Since then it's been a rocky road. It's been as low as $45.40. Right now it's at $50.90. After some disappointment with the announcement that the new Blackberry Play Book won't be released until the new year, the investment community seems to be responding to the positive press about this new device. Yesterday I gassed my gas company, Encana (ECA). Even as we approach the heating season I couldn't see hanging onto this company. Nat gas is just TOO cheap and there's TOO much of it.
We're off to a much better start this month. As I write this, the markets have been open for less than 45 minutes and the TSX is up 74. Additionally, gold, oil and the US markets are all UP! It's all good....for the moment at least.
As reported on these pages, I made a couple of changes in my trading account in September. On September 2 I bought Research in Motion (RIM) at $46.49. Since then it's been a rocky road. It's been as low as $45.40. Right now it's at $50.90. After some disappointment with the announcement that the new Blackberry Play Book won't be released until the new year, the investment community seems to be responding to the positive press about this new device. Yesterday I gassed my gas company, Encana (ECA). Even as we approach the heating season I couldn't see hanging onto this company. Nat gas is just TOO cheap and there's TOO much of it.
Good Luck & Happy Investing!
