RE: Article in Globe and Mail about Steel Industrjjward, if it was me I’d probably have sold ½ my position and kept the rest as “free” stock. While the stock may pause here, I don’t see much downside risk, so it’s probably a safe hold. If I was of the opinion that the stock might trend down and I could anticipate repositioning at lower prices for the next leg up, I might consider selling all now. But I don’t think that will happen or at least not to the extent that would justify such a strategy for me. While P/E appears relatively rich, I believe it is supported by the expectation of growth, the dividend and not least of all, the pricing of the bought deal @$9/share, which gives you a kind of “safety in numbers” effect.
But then, like Brian, my ACB is higher than yours, so I’m not even at the stage of wracking my brains over what to do with a double, so I’m holding.
Anyway nothing wrong with taking profits. Good on ya! If you continue to watch it, maybe you’ll jump back in at someday.
Cheers,
Diz
Ps. I have some thoughts on the surcharge, but I’ll leave that for another post as it’s getting late. Bottom line is, I’m not too concerned about it in Russell’s case and I definitely don’t think it’s an issue long term.