SargeX wrote: Hey Walt
Great to hear you're getting out more and cool on the woodworking. I have a few friends that are into it and they sure make some really nice stuff.
Just to clarify on CPX, my fav in the utilities is AQN with EMA, and FTSnot being too far behind but we have a full position in all 3. Also as mentioned, we own a full position in BEP.UN and NPI but I think they are grossly over-priced. I was looking for a utility to replace the ALA we were trimming and CPX was the best fit for us.
10,000 shares of the "old" ALA would have been fantastic. 10,000 of the new ALA is really a tough break (unless of course you had bought all of them < $10 :-).
As I mentioned, we trimmed 1200 at $20.18, 450 @ $16.23. and 1050 at $16.79. I had planned on trimming another 250 and had a sell order in that I have now cancelled. I decided to bump the next trim up to 600 shares. Hoping for $17.20 but suspect I will settle for around $16.60. When that's done, we will have gone from 4200 shares to 900.
If by some miracle, it got above $18 or $19, we'd probably blow all those out as well and say a big "adious".
Take her easy and enjoy the outdoor stuff and wood-working
Sarge
WalterWhy wrote: Hey Sarge,
Glad to hear things are going well. Since end of June I've been forcing myself to get outside more while the weather is nice and I took up woodworking, so spend most days outside and in the shop. I took your advice that watching the markets too closely was probably not good for my physical or mental health (and at the end of the day, it's something I have zero influence over). I don't hold any CPX, but if you replace BEP with BAM, EMA for ACO and RY for TD, we have the same names. I sold the last of my NPI last month and have been waiting to get back in, but it has been on a tear lately and seems like it sets all-time highs every week. Glad to hear it's working out for you.
I will check out CPX, as I still have too much ALA. At one point, I was up to over 10,000 shares (it was, foolishly, my single largest holding as I was chasing the yield), and now have trimmed that to just under 6,000. On any up days, I'm going to continue to sell down. I was "lucky" in that I got in some on the dip below $10, but not enough to cancel out the value destruction of the share price from the mid-to-high $20s.
Take it easy and enjoy the fall!
WW