# Sticky  What are you selling?



## GeoNomad

What stocks are you selling today?

I notice that the Richardson GMP Tactical strategy indicator moved from 81% equities last week to 46% today. Quite a change in sentiment.

Anyone taking their profits and rebalancing?

Haven't sold anything myself yet, but I will be looking at profit taking on some of the big winners from last year and will buy back some covered calls that have moved down.


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## humble_pie

thinking lazily which calls can be rolled down
but not yet


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## DavidW

I haven't sold anything just going through earnings reports to see if there is anything I don't want any longer. Most of my holdings haven't reported yet, especially on the Canadian side while on the US side I have some earnings news releases to review so far and no 10Q filings in some instances.

The one time non-cash tax changes effecting earnings in the US this quarter are going to skew trailing PE ratios for the rest of the year and I don't know how the market and market algorithms are going to treat those stocks yet. I might use this effect as an aid in the search for value over the course of this year and next.


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## lonewolf :)

Went long both OTM calls & puts as of late. Looks like we are in a third wave down that is part of a 5. The market could crash big time right here. If not will look to add to puts on wave 2 correction which often retraces .618 of decline.

We are in the Steve Puetz crash window where the 8 greatest crashes from the 1637 Tulip Mania to the Tokyo 1990 stock crash. Puetz notes once the panic starts it usually lasts 2 - 4 weeks. The Tendency is for the market to peek a few days before the full moon move flat to slightly lower waiting for the full moon to pass then on the day of the full moon or slightly after the brunt of the crash hits the market.

All eight crashes started 6 days before to 3 days after a full moon within 6 weeks of a solar eclipse. Odds of happening 1 in 127,000

This could get interesting


If not the top the volatility is signaling danger. We have had record low volatility which is often seen going into a top then a few months before the top the volatility picks up which can be seen in an increase in the VIX. This is the most dangerous stock market in US history


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## humble_pie

lonewolf :) said:


> Went long both OTM calls & puts as of late



oh, you were buying strangles? hmmmn this would be a good market to buy strangles






> The Tendency is for the market to peek a few days before the full moon move flat to slightly lower waiting for the full moon to pass then on the day of the full moon or slightly after the brunt of the crash hits the market.
> 
> All eight crashes started 6 days before to 3 days after a full moon within 6 weeks of a solar eclipse.



we've passed the full blue wolf moon & the lunar planet is now visibly shrinking each & every day. Feb 14th should be an all-black night with no visible moon whatsoever. Then the new moon should appear feb 15th.

these are the days for getting rid of things, as grandmother moon shrinks herself towards nothing, say the six nation clan mothers.

once we're into the new moon & are rotating back towards the next full moon on march 2nd, the times might be right for acquiring things.

.


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## jargey3000

Dont we already HAVE a "what are you selling thread"?
(btw ...just sold our '07 Civic last nite!)


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## Oldroe

I'm trying to buy IPhone 6s. And apparently a dryer.


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## Beaver101

jargey3000 said:


> Dont we already HAVE a "what are you selling thread"?
> (btw ...just sold our '07 Civic last nite!)


 ... yeah, but this one is a "catch-all" you see. So congrats on selling your decade-old Civic !.... just in time to buy some more WEED, NINE, or financing that trip to Mexico or are you sticking with Jamaica? :encouragement:


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## jargey3000

all of the above


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## m3s

Oldroe said:


> I'm trying to buy IPhone 6s. And apparently a dryer.


I'm trying to sell iPhone 6. Will throw in washer/dryer


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## bumblebee

not a damn thing


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## jargey3000

DOH!!!
sold off EVERYTHING at yesterday's lows!!!
WHEN WILL I EVER LEARN???!!!


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## londoncalling

This is an old thread but I thought it made sense to post here instead of the what are you buying thread. Perhaps a mod can merge those posts here.

Sold AFN.TO today after yesterday's 10% jump. I held this position a number of years(2012) and sold almost half at $55.XX. I still like the stock and the space and think they will increase the dividend in time but I am trying to place some guidelines around selling going forward. It has always been a tough decision for me.

No dividend increase year one a quick analysis of the stock to address debt, cashflow, earnings, payout ratio and dividend stability. After 2 years without an increase revisit to if the numbers have improved. As Total return is what matters share price appreciation should play a factor. That being said that has always resulted in my indecision. Both FOMO on future gains but more so regret on selling at a loss.


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## james4beach

I'm also surprised we don't have an active thread on selling. Thanks for posting, @londoncalling

I sold a bunch of S&P 500 (SPY) and gold (IAU) last Friday -- see this thread. This was a bit of 'market timing' on my part, though I would have had to sell it eventually anyway.


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## nobleea

In the last week, I've sold most of my DIS position (+27%) and all of my Ford (+38%)


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## Ponderling

Sold west coast terminals after a good price bump, and not too much big upside. Teck is advancing their own terminal, and that will take a lot of business away. 

Sold stella jones after picking it up a few weeks ago, before the good results were announced.

I am sitting on a lot of others that are down from feb highs, but gradually coming back.

I have put more cash into beat up holdings that i think have a way back.

I have just in itrade moved all rrsp us holdings to a 'us friendly format'.
I have sold a bunch of cdn bond xbb and xqb from rrsp and will go with agg us bond fund instead. 

The us moves are to try to protect against what I feel will be a softening of the CAD$ with the new federal dynamic duo now not even trying to turn back the spending tap.


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## nobleea

Sold some MGM and a bit more DIS. VIAC is getting close to my sell range so I'll start to enter sell orders for that.


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## james4beach

I don't feel great about this timing, but I sold 30K of USD that I had been sitting on, sold @ 1.308

I have both CAD+USD cash but when I looked at the ratio, I found I was holding way more USD than I want. My targets are 75% CAD and 25% USD cash for a bit of diversification.

Just wish I had sold earlier  For a few weeks now I've been thinking to myself, I hold too much USD and should convert some. Oh well.


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## scorpion_ca

I have been selling VUN in the last two weeks.


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## Borat

scorpion_ca said:


> I have been selling VUN in the last two weeks.


Good move.

I sold all my NCX, a speculative gold holding.


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## nobleea

VIAC hit my first sell point, so a portion of it sold today. Looks like my sell price is above the daily high, which is a bit odd (29.02 vs 28.86)


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## nobleea

Sold most of my CAE very close to today's high. Has run up quite a bit in the last month. If it goes below 20 or 21 I'll buy back in. And if it continues upwards, I still have some left in a different account.


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## fryman

james4beach said:


> I don't feel great about this timing, but I sold 30K of USD that I had been sitting on, sold @ 1.308
> 
> I have both CAD+USD cash but when I looked at the ratio, I found I was holding way more USD than I want. My targets are 75% CAD and 25% USD cash for a bit of diversification.
> 
> Just wish I had sold earlier  For a few weeks now I've been thinking to myself, I hold too much USD and should convert some. Oh well.


Could you elaborate on your chosen ratio of CAD to USD? I am a novice investor and haven't thought about what ratios are healthy.


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## james4beach

fryman said:


> Could you elaborate on your chosen ratio of CAD to USD? I am a novice investor and haven't thought about what ratios are healthy.


I'm deciding based on where I think I will spend cash in the coming years. I [used to] frequently take vacations in the US, and I'm definitely going to spend USD in the future.

So I'm just aiming to keep some amount of USD cash around.


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## fryman

Does investing in the US market vs Canadian market play a role at all? For example the ability to invest in Nasdaq and NYSE?


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## james4beach

fryman said:


> Does investing in the US market vs Canadian market play a role at all? For example the ability to invest in Nasdaq and NYSE?


That might be a good idea to keep USD cash on hand, but that's not an issue for me. I mostly invest in the US using ZSP, an ETF based in Canada (trades in CAD) which gives pure S&P 500 index exposure. When you buy ZSP, the currency conversion happens automatically. So even when I'm investing in the US, my buy orders are in CAD.

But yeah, some people who like buying individual US stocks probably want to keep some USD cash lying around for that purpose too.


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## Investor87

fryman said:


> Does investing in the US market vs Canadian market play a role at all? For example the ability to invest in Nasdaq and NYSE?


Luckily, we have access to the American market through Canadian listed ETFs, so just like James, I use the same ZSP. for Nasdaq I use ZQQ(hedged) and ZNQ(unhedged).


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## Ponderling

Sold positions in the non registered account that were more than 30% up over cost basis to capture capital gains. Bought a similar stock in each situation. After the required time has elapsed I might trade back to my original holding. Sold OVV once it got close to its cost basis on recent oil strength. Oh, the once mighty Encana has melted to the OVV puddle


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## Retiredguy

Selling a gain. What "required time" are you referring to?


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## agent99

Sold ZRE and XRE in TFSAs. Not yet replaced.
Sold ZDV in taxable plus some Riocan to balance loss/gain.
moved CM,BNS,EIF,TRP,TD in RRIFs, in kind, to add to same in taxable accounts.


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## londoncalling

Exited my position in BPY.UN @ 21.81 earlier this week. Originally purchased in January of 2020 at $23.60. I haven't done the calculation on total return but a quick look tells me this will be a wash (or perhaps -1% return) after dividends and trading fees. I had placed the sell order the day following the announcement to go private and see that the order was filled on Jan 19th.


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## KaeJS

agent99 said:


> Sold ZRE and XRE in TFSAs. Not yet replaced.
> Sold ZDV in taxable plus some Riocan to balance loss/gain.
> moved CM,BNS,EIF,TRP,TD in RRIFs, in kind, to add to same in taxable accounts.


Why are you ditching real estate?

Is it because of future rate hikes and covid?

Do you not think there could be some huge gains to be made in the next 1-2 years?


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## agent99

IMO Offices, retail not likely to do well for years. Never ever saw huge gains on REITs and especially REITs etfs. Equity in home will do fine.


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## Rusty O'Toole

Got stopped out of TQQQ yesterday when it took a fast drop. Entered the position Nov 3, booked a profit over $100,000. Will probably get back in , in a few days, especially if it fills the gap by dropping to 93.


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## agent99

Last April, in midst of Covid market crash, I sold some risky equities and bought several short term GICs, bonds and coupons (in our taxable accounts). Most have matured, but for some reason I also bought a Bell coupon with 2026 maturity. Coupons are a pain to keep track of for tax purposes, so I decided to sell. In a registered account, I would have kept it. 

i paid $8278.80 last April. Today I sold (after $100 commission) for $8990.90. Total of about 9 months. Capital gain $712.10. 8.6% or 11.47% on annual basis! 

This is it: CPN BELL CANADA SERIES EU @ 82.7880C$ 10.00% BOOK ENTRY ONLY DUE 06/01/2026 YIELD:3.1046% S/A;3.1287% ANN. Currently 90.xxC$ yielding about 2%.


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## agent99

Just sold BB at $30.05. May regret doing that too soon but can't complain - never thought I would make a profit on what was left of my BB. May buy it back again if it gets back under $10.00.


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## Spudd

agent99 said:


> Last April, in midst of Covid market crash, I sold some risky equities and bought several short term GICs, bonds and coupons (in our taxable accounts). Most have matured, but for some reason I also bought a Bell coupon with 2026 maturity. Coupons are a pain to keep track of for tax purposes, so I decided to sell. In a registered account, I would have kept it.
> 
> i paid $8278.80 last April. Today I sold (after $100 commission) for $8990.90. Total of about 9 months. Capital gain $712.10. 8.6% or 11.47% on annual basis!
> 
> This is it: CPN BELL CANADA SERIES EU @ 82.7880C$ 10.00% BOOK ENTRY ONLY DUE 06/01/2026 YIELD:3.1046% S/A;3.1287% ANN. Currently 90.xxC$ yielding about 2%.


What is a coupon? Is it a type of bond?


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## james4beach

agent99 said:


> Just sold BB at $30.05. May regret doing that too soon but can't complain - never thought I would make a profit on what was left of my BB. May buy it back again if it gets back under $10.00.


Congrats!

And I keep hoping the Ontario Teachers Pension sells into this strength. I just can't imagine letting these stupid prices slip through their fingers.


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## agent99

Spudd said:


> What is a coupon? Is it a type of bond?


Yes it is. You don't actually get paid any interest. You buy the bond (coupon) at a discount and collect the full face value at maturity. In the case I mentioned, I paid about 83.00 and would have received $100 at maturity. For tax purposes, you have to declare interest each year even although you don't receive it. You also have to add this annual interest to your acb. At maturity, your acb equals the face value so there is capital gain. Not a problem in a registered account, but a lot of accounting in taxable account.

Nomenclature is confusing - Strip bonds, coupon bonds etc. Some info here: Investing in strip bonds (part 1) | Qtrade Investor


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## Rusty O'Toole

Rusty O'Toole said:


> Got stopped out of TQQQ yesterday when it took a fast drop. Entered the position Nov 3, booked a profit over $100,000. Will probably get back in , in a few days, especially if it fills the gap by dropping to 93.


Put in a buy order for 2000 shares @ 93 this morning, got hit about 3:30 then took off up. This is the first time I hit it exactly. Up $5000 at end of day. Will buy more in the next few days.


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## MrBlackhill

agent99 said:


> Just sold BB at $30.05. May regret doing that too soon but can't complain - never thought I would make a profit on what was left of my BB. May buy it back again if it gets back under $10.00.


Well done. The stock is down -28% today.


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## agent99

Yes, just saw that. Problem now, is what to do with proceeds from both my recent sells (about $20k in 2 accounts). Was going to buy XIU yesterday, but had to go out. Nice jump back for TSX today. Missed that.


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## Benting

Sold [email protected] BB yesterday and another [email protected] this morning.
$2.5k gain with 100 shares left from the one week adventure, so far...….. to be continued.


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## Spudd

agent99 said:


> Yes it is. You don't actually get paid any interest. You buy the bond (coupon) at a discount and collect the full face value at maturity. In the case I mentioned, I paid about 83.00 and would have received $100 at maturity. For tax purposes, you have to declare interest each year even although you don't receive it. You also have to add this annual interest to your acb. At maturity, your acb equals the face value so there is capital gain. Not a problem in a registered account, but a lot of accounting in taxable account.
> 
> Nomenclature is confusing - Strip bonds, coupon bonds etc. Some info here: Investing in strip bonds (part 1) | Qtrade Investor


Interesting... thanks for the education! I'm intimidated by bonds so I only buy ETFs.


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## Benting

Benting said:


> Sold [email protected] BB yesterday and another [email protected] this morning.
> $2.5k gain with 100 shares left from the one week adventure, so far...….. to be continued.


Sold the rest. Now I can relax.


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## nobleea

Sold out of MESA. Outlier airline stock that has tripled in the last 6 months and is up and has almost doubled in the last 3 weeks.
I bought in well before the pandemic, but still managed to make money on this one. Small holding.
Still profitable, PE under 15. It probably has more room to move yet.


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## nobleea

Sold out of US Bancorp and about 2/3 of Cineplex


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## nobleea

Sold most of my MGM


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## londoncalling

Sold out of US financial PBCT. Rational can be found here.

(6) People's Bank PBCT | Canadian Money Forum


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## james4beach

Is anyone selling all their blue chip stocks to buy BTCC.B yet?


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## MrBlackhill

james4beach said:


> Is anyone selling all their blue chip stocks to buy BTCC.B yet?


😂


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## Retiredguy

MrBlackhill said:


> 😂


Doing that, I would consider about as intelligent as buying a lottery ticket using last week's winning numbers hoping they would win again next week.


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## Eder

I bought some, lost $89...sold.


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## Tostig

I have a few holdings I bought high in late 2019 that I bought more in April 2020. Now that they're recovering I've been selling my high positions taking profits or simply recovering my money as I anticipate another downturn.

I've been waiting for the downturn since the US election and took some buying opportunities on Tuesday (Feb 23).


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## dubmac

just sold my WCP holding after it broke 6. The last time it was above 6 was Nov 2018...almost 2.5 years!


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## james4beach

Retiredguy said:


> Doing that, I would consider about as intelligent as buying a lottery ticket using last week's winning numbers hoping they would win again next week.


There is now $624 million invested in BTCC. Pretty huge.


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## sags

Unfortunately, early into the ETF is late into bitcoin.


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## nobleea

Sold about 1/3 of my VIAC into strength. I originally started buying around 15 last year and sold at 74. Biggest gainer of this pandemic portfolio.
I can see it running in to the 80's, but percentage wise there's probably bigger opportunities out there now. Have about 70K in cash available with this.


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## james4beach

james4beach said:


> And I keep hoping the Ontario Teachers Pension sells into this strength. I just can't imagine letting these stupid prices slip through their fingers.


Does anyone know if OTPP ever sold and realized some gains on the BB pump? I don't understand why they would sit and let such a market anomaly happen without selling some. They have a very significant position.


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## nobleea

nobleea said:


> Sold about 1/3 of my VIAC into strength. I originally started buying around 15 last year and sold at 74. Biggest gainer of this pandemic portfolio.
> I can see it running in to the 80's, but percentage wise there's probably bigger opportunities out there now. Have about 70K in cash available with this.


Looks like another 1/3 got sold at 80. Spectacular run today. The rest I will keep and see what happens.


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## nobleea

Sold ATD.B. Bought 2 months and 11% ago. Good long term growth stock, but in the next 10 months, I think there's bigger gainers available.


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## MrBlackhill

nobleea said:


> Sold ATD.B. Bought 2 months and 11% ago. Good long term growth stock, but in the next 10 months, I think there's bigger gainers available.


I think I'll follow your buys & sells. You seem like a good investor & trader. Good job.


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## Eclectic12

Sold about half my IPL as having bought near the low meant it is making a bit of money.


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## Numbersman61

I sold my entire IPL position just prior to the Brookfield announcement. Now that was *bad* timing. I reviewed the financials and became convinced it was facing strong headwinds and could possibly face a credit crunch. No point in second guessing the decision - I just did not anticipate a third party premium bid.


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## nobleea

MrBlackhill said:


> I think I'll follow your buys & sells. You seem like a good investor & trader. Good job.


Oh, please don't. I'm going to chalk it up to luck in the short term.


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## MrBlackhill

nobleea said:


> Oh, please don't. I'm going to chalk it up to luck in the short term.


Haha! Then I hope you'll keep being lucky! And I hope I'll also keep being lucky...


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## Eder

I appreciate you posting them. Most don't for fear of criticism or whatever.
I like to put my buys up as well...if I can't post it I shouldn't be buying it imo.


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## nobleea

Sold PLTR at a loss. Bought it when the signal strongly crossed the MACD as that's usually a sign of a momentum swing up, but didn't happen so I'm out.


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## nobleea

Sold MGM at 41.10. ACB was 34.60 with majority purchased at the start of March.


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## nobleea

Sold SPG.WT in a short term trade. Small $ amount, but 40%/$1300 gain in 2 weeks.


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## fstamand

Sold my ATB shares I bought during the dip. chachingggg


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## londoncalling

Trimmed a 1/4 of my WEF position today at $2.05 ACB was $1.61. Although I see more potential upside, WEF had grown to my 2nd largest position(still 5th of 40) and was split between multiple accounts(LIRA and RRSP). The changes to the dividend in 2020 although justified do not fit into my dividend growth plan. No plans to sell the remaining position around current price. No plans on where to reallocate the proceeds at this time.


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## Eder

I'm waiting for $2.50. Not a large position with me but I just love sawmills...smell of a head rig in the morning & all.


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## nobleea

I was targeting 2.25-2.30 to start selling. Also bought at 1.61. Might be a bit early.


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## nobleea

Sold some TECK. I was targeting an exit starting at 32, but I have a hefty tax bill coming up in a couple weeks due to severance in 2020, and I'll need some cash to cover that. I bought this between $10-20, I think the average was $15.50.


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## londoncalling

nobleea said:


> I was targeting 2.25-2.30 to start selling. Also bought at 1.61. Might be a bit early.


I am not very good at timing. I do believe there is likely further upside. I may look at trimming further around $2.50 or possibly holding on to $2.80ish. If payout ratio remains reasonable and there are buybacks or sustainable dividend increases (doubtful) I may continue to hold. Glad that there are others here that have a position.


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## Mechanic

Had a sell on all our SJR.b for $35 that just filled. I know the takeover price is $40 but if it falters, it would rapidly drop and I would likely buy again. Healthy profits with acb around 23.80, too good to miss.


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## james4beach

Sold all my BBD.B that I had bought as a speculative gamble early this year. A nice quick 17% gain over just 3 months.

The position played out nicely with a far higher return than the index, but it's too speculative for my taste. I'm also overweight Canada so this accomplishes some rebalancing, to reduce Canadian equities.


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## Investor87

james4beach said:


> Sold all my BBD.B that I had bought as a speculative gamble early this year. A nice quick 17% gain over just 3 months.
> 
> The position played out nicely with a far higher return than the index, but it's too speculative for my taste. I'm also overweight Canada so this accomplishes some rebalancing, to reduce Canadian equities.


Nice, I think most people view BBD more of a gamble than anything else. Glad for your gains James, what are you buying with that cash?


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## Eder

Sold off half of my Enbridge long term position today. I still like the company but am trying to slowly reduce exposure to this sector and increase my CNR.


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## nobleea

Sold half of my WEF at 2.34. 
Up 45% in 2 months. Will probably keep the other half for the next quarter.


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## Eder

First time I've ever sold TRP but I liquidated half my shares today. Feels good to sell some stuff as TSX hitting all time highs.


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## Rue Shamrock

BRK.b in my RRSP after buying at just under $200. It was my start of COVID buy thinking BH had lots of cash to go bargain hunting but then BH sold all the airline stock holdings and did not buy much other than itself. After the Warren and Charlie annual show last weekend, the share valuation was enjoying too much of a premium. I could be wrong, just like my original thesis for buying the “elephant hunting” stock that didn’t...


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## Ricehammer4416

Sold my position in RBLX. It's not a typical type of investment for me and I'm just happy to be rid of it without a loss.


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## MrBlackhill

Sold OVV.TO after making +270% in a year.


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## fstamand

Sold my PPL.to shares (probably too early)


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## Ricehammer4416

Sold off the remainder of my SU.


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## MrBlackhill

MrBlackhill said:


> Sold OVV.TO after making +270% in a year.


Happy with my +270%, but man it hurts to see another +20% in a month since I sold.

Maybe I should've kept it until mid-summer to see the rising demand, as I planned when I bought the stock last year.

Anyways, as a beginner, it was better for me to secure that gain as I'm not an expert about the O&G industry.


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## londoncalling

Sold out my position in Diversified Royalty Corp at 2.71. This was a long standing order to sell which hit today when the stock rose 17 cents or 6.6% on the day. It was going to go ex dividend tomorrow so I will miss out on the 1.7 cents a share payment. Not sure why the stock rose on the day but am content to lock in a profit of 10% plus dividends. Will do a deeper analysis when I get a chance. Position was just under 2% of portfolio.


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## Ponderling

A week ago I took the lawn mower to stocks that have soared recently. We hold basket of dividend paying stocks in non reg, and as a lazy management tool, I keep then all with a holding of about 12k. I look them over maybe twice a year. Get above 14k, and 2k gets trimmed. Look at ones that have recently under performed, and see if they should be a buying opportunity. With the general run up of stocks, I have not seen buying chances very often. Currently the trimmings are in a 'mulch pile'. Which is not bad, as I aim to build cash as I ease towards potential early retirement.


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## james4beach

Sold 20k of USD. This cash will be invested into GICs and gold.


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## Gator13

Bought more ZDY, BCE, EMA, ALA, and FTS.


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## james4beach

Gator13 said:


> Bought more ZDY, BCE, EMA, ALA, and FTS.


BCE and FTS have been lagging the TSX lately, most likely due to the increase in interest rates. As far as equities go, they are somewhat bond-like.

I'm still very happy with my holdings in them.


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## Gator13

james4beach said:


> BCE and FTS have been lagging the TSX lately, most likely due to the increase in interest rates. As far as equities go, they are somewhat bond-like.
> 
> I'm still very happy with my holdings in them.


I bought them as long term holds and as part of my dividend strategy. I am hoping they provide stable performance over the long term.


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## newfoundlander61

Sold 725 shares (full position) in AW.UN


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## james4beach

I sold some USD at 1.255


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## nobleea

nobleea said:


> Sold half of my WEF at 2.34.
> Up 45% in 2 months. Will probably keep the other half for the next quarter.


Got rid of the remaining WEF at 2.10. Not sure if this one is going to take it to the next level this year. Seems kind of stuck despite all the good earnings and share buys.


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## nobleea

Sold about half of our TECK.B position


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## londoncalling

Exited my position in IPL.TO at $20.00 this week. Have held this stock since 2012 at an average price of $16.25. Including dividends that is about a 10% return. I could have done much better had I sold in in the mid 30s around 2015 but at that time like many shareholders I was happy with the companies operations and stock's performance. Being unsure of how the current takeover of the company was going to play out I opted to take the cash now and decide where to allocate as opposed to being left with either the shares or a mixture of cash and shares. Cash position is now at 12%.


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## scorpion_ca

200 VCN @ 42.10
800 HCLN @ 15.50


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## nobleea

Sold almost all of our TECK.B position. Only 100 shares left. Purchased these between $12-25 over the past 18 months. Maybe it has more to run, but $32ish is what I thought our exit point would have been originally. This is too cyclical for a long term hold.


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## MrBlackhill

Sold :

CSU.TO (half) [+62% in 17 months]
BYD.TO (liquidated) [+28% in 17 months]
KXS.TO (liquidated) [+55% in 17 months]
FSV.TO (liquidated) [+41% in 8 months]
Bought :

DOO.TO
EQB.TO
RAY-A.TO
MKP.TO
TTR.V
VCI.V


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## nobleea

nobleea said:


> Sold almost all of our TECK.B position. Only 100 shares left.


Rest is gone now.


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## james4beach

Sold some USD


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## MrBlackhill

Sold KL, CJT, FOOD.


----------



## londoncalling

Trimmed my positionin CCO.TO by 1/6 today at 35.36 as this stock has risen quite a bit this past while. It was my largest equity holding and is still 4.5%


----------



## Mechanic

Had a sell on my LCID that filled. Bird in the hand, but will watch for a re-entry point.


----------



## nobleea

Sold about half of my AD.TO on positive earnings today. Total return of about 45% in a year.


----------



## Mechanic

Sold AD in one of my accounts too.


----------



## londoncalling

Exited my position of WEF.TO today at 1.85 pocketing a 15% return. Will look at lumber stocks again in the spring. Commodity stocks are not buy and hold they are buy and monitor. I debated selling back in October but thought it could see further breakout past $2.40.


----------



## Benting

Sold a few shares of TD to replenish my cash/expense reserve, plus 12k for next year's TFSA.
Well, I am done with trading this year.


----------



## james4beach

I sold a tiny bit of CNR and RY out of my 5-pack portfolio, rebalancing. Generally I'm overweight equities, above my target levels, so I think this is a good time to trim back a bit. It's certainly better to "sell high" than low. Now my 5-pack is equally weighted again.

After this rebalancing, my 5-pack (CNR, RY, ENB, BCE, FTS) makes up about 10% of my total investments.


----------



## Covariance

Exited TOI


----------



## londoncalling

Closed my position in Canadian Utilities this morning at 36.42 after holding since early 2020. Original purchase price was 36.25 and remained range bound for the duration of the time I owned it. The position was less than 1% of equities and sold to reduce the number of holdings. As I buy in tranches I tend to establish many underweight positions and hold 39 stocks right now. A few of them are bad purchases from my early days(ex. SGY.TO) but act as a reminder when I am tempted to by junior oil and gas stocks when oil is trading near all time highs.


----------



## AltaRed

londoncalling said:


> A few of them are bad purchases from my early days(ex. SGY.TO) but act as a reminder when I am tempted to by junior oil and gas stocks when oil is trading near all time highs.


You may consider a revision to your IPS that prohibits you from buying underweight/partial positions. 

As with Omicron just now blasting its way into the Northern Hemisphere, look for oil prices to decline and O&G stocks to drag for at least the next few months. If you have positions today you would prefer to get rid of, do them sooner rather than later. I am speculating WTI is going to fall towards $60 when travel restrictions tighten in the next few weeks, and especially if OPEC+ goes ahead with an announced 400kpd output increase in January.

Just like mutual fund managers engage in heightened trading activity to dress up their pigs before year end, now is a time to dress up one's own portfolio.


----------



## londoncalling

Or revise it to say I can hold as many stocks as possible. 








That is a good suggestion @AltaRed but I fear that buying a full position off the hop would have a greater affect on me if the stock pulled back 10% right after buying. Not enough to cause panic selling but it would give me pause. I usually revaluate the stock holding a few months after buying (after the quarterly report) or a a significant price swing and decide to add or hold. If there was a major change to the company I could even sell. I agree with your speculation on WTI and would further add that any major price increases will be cut short by an increase in production. Only other stock I would consider dumping at point is BIRD construction but I am underweight Industrials and haven't identified a strong candidate to add to the portfolio. Also light on consumer staples. My homework for the next while is to look at some candidates.


----------



## nobleea

nobleea said:


> Bought some RCI.B on the drop this morning.


Sold this today. Just wanted a quicker gain from the drop. I think I prefer BCE in this field.


----------



## Eder

I;m also looking to dump my RCI after holding for 12 years but I think it's worth much more than $60....


----------



## nobleea

nobleea said:


> Also bought some VIAC calls (Jan '21, ITM).



Closed out these ITM calls at a 50% loss. Looks like they would have been profitable if I had another month, but they expire this friday.


----------



## Mechanic

Sold all my RCIb today. Made a nice return on it plus some divs. Time to look for another opportunity.


----------



## Eder

I'd like to dump mine too but I think around $70 is my number.


----------



## zinfit

Sold my Zimmer stock. They are the leaders in manufacturing joint replacement devices. Covid has been a big drag on this stock. I have lost my patience for this stock.


----------



## londoncalling

Closed my position in AT&T this morning. Today's announcement of the close out dividend for the sale of Time Warner was the final disappointment for me with this stock. Also have an order in to close out my position in Bird Construction. Both stocks are less than 1% of portfolio.


----------



## zinfit

Moving money into oil stocks. Sold ADT and Alaris to free up cash . The short term outlook for oil stocks is very bullish.


----------



## londoncalling

londoncalling said:


> Closed my position in AT&T this morning. Today's announcement of the close out dividend for the sale of Time Warner was the final disappointment for me with this stock. Also have an order in to close out my position in Bird Construction. Both stocks are less than 1% of portfolio.


Bird closed out at $9.71 today.


----------



## fstamand

Bought and sold Lightspeed on today's dip/recovery. Child's play.


----------



## londoncalling

Care to share your entry and exit points on the trade?


----------



## fstamand

londoncalling said:


> Care to share your entry and exit points on the trade?


I entered at 34.77 and sold at 40.11.


----------



## londoncalling

nice swing.


----------



## londoncalling

Closed out my position in Extendicare at 7.43. This was one of my original purchases when I first started DIY and didn't apply the dividend triangle or chowder Rule to my investing. It is also is a great example of buying the wrong stock in the right sector. Cash position now at 12% as a result of selling this week.


----------



## fstamand

I think with all the volatility lately, it's good to keep a bit of cash for opportunities.


----------



## nobleea

Bought some PARA call options a couple weeks ago after a big drop. Sold half today for 65% gain.


----------



## Sam Sun

Sold Ninepoint Energy (NNRG) today. Will likely buy again after some sort of pull-back, which I have no idea when it will happen.
Last week, Nuttall was talking about launching an energy fund which will be about 30% U.S. with a minimum 5% distribution, and no ROC (return of capital).
I would prefer this new fund, but haven't seen anything on launch date.


----------



## nobleea

nobleea said:


> Bought some PARA call options a couple weeks ago after a big drop. Sold half today for 65% gain.


Should have waited til today! Sold the remainder of the options for 145% in two weeks. I have lots of the underlying stock if it continues to run.


----------



## Faramir

Sold my Barrick Gold last week. Holding the physical gold trust looking for a good price to sell.


----------



## Freedom2022

Sold CLF, iShares 1-5 Year Laddered Government Bond Index ETF.
2% yield is not adequate for rising interest rate.


----------



## nobleea

Sold half of our SU at $40. Bought in the 23-26$ range. The rest we will keep til high 40's or low 50's.


----------



## fstamand

Sold half my AQN, am not impressed so far with it.


----------



## nobleea

fstamand said:


> Sold half my AQN, am not impressed so far with it.


Heh, I also sold my AQN today. Small capital gain with divs on top. Wasn't really worth it.


----------



## fstamand

nobleea said:


> Heh, I also sold my AQN today. Small capital gain with divs on top. Wasn't really worth it.


I expect it will go up tenfold now that I sold some.


----------



## jargey3000

FINALLy getting my head a little above the b/e mark with my CPG, WCP and ALS...It's been a slog.
Now..I'm getting a bit greedy & wonder if I should hang on juuuust a bit longer...to squeeze out a liiiitle more profit....Any comments?


----------



## scorpion_ca

jargey3000 said:


> FINALLy getting my head a little above the b/e mark with my CPG, WCP and ALS...It's been a slog.
> Now..I'm getting a bit greedy & wonder if I should hang on juuuust a bit longer...to squeeze out a liiiitle more profit....Any comments?


You could use dollar cost averaging method to sell your stocks.


----------



## Sam Sun

Sold Enbridge and bought Exchange Income Corp.








EIC, TSX EIF, dividend company


Exchange Income Corporation is a diversified, acquisition-oriented dividend company focused on opportunities in Aviation Services & Aerospace and Manufacturing.




www.exchangeincomecorp.ca




Dividend yield is about the same. I'm just fed up with ENB drama; all pipes for that matter, but still holding Pembina PPL.
Perhaps EIF will bring joy.









EIF.TO:ENB.TO - Exchange Income Corp./Enbridge, Inc.


SharpChart from StockCharts.com




schrts.co


----------



## Ponderling

Trimmed gains from TECK.B and FM in my TFSA. Oh how I love these cyclical miners 

Poured those funds into more MAG while it is presently out of favour with 6 plants in Russia offine

Also furthered my position in DNTL, hoping it gets some more momentum. First part of my position was soon after ipo, and it has sagged a bit.


----------



## peterk

^ Been thinking about unloading TECK as well. But it's in unregistered and sitting on big taxes to be paid (bought at $11). What to do...


----------



## nobleea

peterk said:


> ^ Been thinking about unloading TECK as well. But it's in unregistered and sitting on big taxes to be paid (bought at $11). What to do...


I don't think taxes should be a driving factor of when to sell a highly cyclical stock. Taxes won't be due for another year regardless of when you sell in 2022.


----------



## scorpion_ca

Sold ZRE this morning at $28.25. Trying to make our portfolios as simple as possible.


----------



## londoncalling

After some "himming and hawing" I sold Suncor today @39.20. The stock was never a long position for me but I was able to pick up a quick 8% in 2 weeks. I definitely could have captured a better return by selling last week. The trade is a good reminder as to why I am not a swing trader.


----------



## nobleea

Sold about half of my remaining AD.TO. About 50% gain in 1 year - there have certainly been better performers over that time, but this'll do.
Sold all TOU. Maybe I was early to sell, maybe a bit late off the top. Who knows. 48-50 was where i thought I'd sell when I bought it. About 15% in 5 months.


----------



## Faramir

All my gold and gold stocks. Looking to re position.


----------



## londoncalling

Sold my inherited pot play Alcanna CLIQ.TO today at 10.10. LIQ.TO was one of my initial holdings from 2011 that was an owner operator of private liquor stores. SNDL has a long standing offer to takeover the company which may or may not go through. The reason for holding the position all these years was to remind me of my naivete as a new DIYer. It was bought on the premise of sin stocks being recession proof. Regardless additional research needs to be done and this was a poor selection. As far as portfolio is considered it is a non event as the position was less than .3%. However, there definitely was a opportunity cost. After holding for 11 years I have an annualized return of .33%. In this instance I may as well have kept my money in my wallet for an equivalent return. to be honest I thought I was closing this position at a loss.

For those interested in looking at a historical perspective of how to pick a long term underperformer here is the link to the stock itself. @OptsyEagle provided some great insight in post 39
(1) Liquor Stores N.A (LIQ.TO) | Page 2 | Canadian Money Forum


----------



## Raggedy Dandy

londoncalling said:


> The reason for holding the position all these years was to remind me of my naivete as a new DIYer.


I have a few of those over the years as well, as I'm sure everyone else on here does. At one point I had a position which was valued less than the commission to sell it. Sometimes you need to see it in there just to keep you honest.

Don't think of it as a loss/opportunity cost - it's tuition


----------



## scorpion_ca

Sold ZUT at $26.2 this week. Utilities should be dropping once interest rates rise more.


----------



## Gator13

scorpion_ca said:


> Sold ZUT at $26.2 this week. Utilities should be dropping once interest rates rise more.


We have held ZUT for quite a long time and we are most likely sell this year. The downside is that they are held in a taxable account and the capital gains hit will sting. (it is the last ETF held in taxable account & book value is just over $15). We also own 9 of the 15 holdings so we can use the proceeds to bump up the individual holdings as well as other current holdings. 

Total of monthly distributions received throughout the year: 5,938.80

T3 reported the following:
Actual Dividends: 4,423.56
Capital Gains: 5,258.34
Return of Capital: 1,135.20

Any idea why there would be a need for return of capital?


----------



## AltaRed

Look at the bottom half of this old G&M article by John Heinzl for the cash component of ETF unit creation. Also, one of ZUT's holdings, BIP-U likely has some ROC in its own distributions. It is not that uncommon to have a bit of ROC. Why ZUT has so much this year may depend on else went on last year.

FWIW, ROC is not a bad thing as long as it is not indiscriminate return of investor's capital. It has gotten a bad rap in the past with the old 'managed payout' funds but ROC rarely is a bad rap otherwise. I like getting income today that is not taxed until a much later date at a cap gains inclusion rate.

Edit: Corrected link


----------



## Gator13

^ The link did not work for me and I was signed into my G&M account. I think I would prefer to sell ZUT and buy the individual holdings less the trust unit< especially considering we already own 9 of the 15 holdings.


----------



## AltaRed

Don't know why that link won't work. Wrapping your head around return of capital from your ETFs


----------



## Gator13

AltaRed said:


> Don't know why that link won't work. Wrapping your head around return of capital from your ETFs


Thanks. That provides clarity.


----------



## bflannel

Sold 1/2 position in CNQ at 137%+ not a bad time to rebalance and redeploy inside an RRSP. I sold 2/3 of my magna position at a pretty good top... dang if I hadn't sold the other third. Will sit on it and see how the dividend schedule does when the dust settles. Hard to quit a job that gives you the promise of a big raise.


----------



## Sam Sun

Sold my Materials Sector ETF (XLB) which I bought just before Christmas 2021.
It was meant to be a long-term hold, but for some reason I can't get comfortable with it; and I hate holding something that I feel the need to check on it daily.
Now the search for something else in USD begins, although holding 2% cash isn't the end of the world.









Materials Select Sector SPDR Fund


Explore XLB for FREE on ETF Database: Price, Holdings, Charts, Technicals, Fact Sheet, News, and more.




etfdb.com


----------



## nobleea

Sold the remaining amount of my AD.TO. Will rinse and repeat if it drops to $15 or so again.


----------



## zinfit

I have a couple hundred thousand in VTI. It is occurring to me that this inflationary situation is one for selective /active investment . I will be selling 1/2 position and buying commodities, materials and oil and gas stocks. They are in a bull market that will be with us for a while. The supply chain problems are with us for the next year, the Russian/Ukraine war will disrupt markets for the next year . We had high demand and tight supplies without these issues. The tech and high growth stocks make up a fair chuck of the US market and it is clear that the monetary policies of the US Fed will not be kind to this type of stock.


----------



## james4beach

I'm getting a bad vibe on the stock market, so I sold a bunch of small high-beta positions (growth stocks) and replaced them all with the XIC stock index.

This maintains my Canadian equity exposure (no NET change) but shifts from some higher beta stuff to more reliable large caps. I had been debating doing this for a few months but I currently think the equity market is facing some severe risks with interest rates soaring, which I suspect could destroy higher risk equities.


----------



## zinfit

james4beach said:


> I'm getting a bad vibe on the stock market, so I sold a bunch of small high-beta positions (growth stocks) and replaced them all with the XIC stock index.
> 
> This maintains my Canadian equity exposure (no NET change) but shifts from some higher beta stuff to more reliable large caps. I had been debating doing this for a few months but I currently think the equity market is facing some severe risks with interest rates soaring, which I suspect could destroy higher risk equities.


We are moving into higher interest rates, slow growth economy with the potential for a recession. Inflation is the biggest issue for now and the immediate future just as it was in the early 1980s with PET. I have reposited my investments radically into different sectors. They are sectors which do well in an inflationary period and a stagnating periods. That has got me into oil and gas, materials especially fertilizer stocks, US healthcare providers and insurance stocks[ their earning improve with higher bond yields] . I also have preferred resets who should do well with a rising 5 year government bond yield. Products and services that maintain sales or can increase sales in a poor economy and have pricing power are gems as well. Although I am shy on tech I think Amazon fits the last criteria. I find we are using it more and more.


----------



## nobleea

Also getting a bad vibe of the current market and have been selling and not buying. I can see us getting up to 50% cash, but I think we're only at 15 or 20% right now.


----------



## zinfit

nobleea said:


> Also getting a bad vibe of the current market and have been selling and not buying. I can see us getting up to 50% cash, but I think we're only at 15 or 20% right now.


Cash isn't your friend if inflation is reducing its purchasing power by 7 or 8% per annum. Owning a basket of commodities is a better choice.


----------



## nobleea

zinfit said:


> Cash isn't your friend if inflation is reducing its purchasing power by 7 or 8% per annum. Owning a basket of commodities is a better choice.


If I can get the stocks for 20-30% cheaper in a year? I'll take the 7% hit on cash.


----------



## james4beach

If you don't like stocks, don't like cash and don't like bonds... consider gold.


----------



## zinfit

nobleea said:


> If I can get the stocks for 20-30% cheaper in a year? I'll take the 7% hit on cash.


Wish you luck with that. I suspect you will find it difficult to determine when to get back in and you will miss out on a lot of opportunity. During the pandemic I went with stay at home stocks and had exceptional returns. Last September I started repositioning towards sectors which have done well in inflationary, rising interest rate markets. So far that has been very rewarding. Energy, materials, insurance and healthcare . So far this year I am up about 6% . I am confident of double digit returns for the year. With this market the trend is your friend.


----------



## investor65

Sold alot of our bank stocks last week hoping to save some money.
Did not expect banks to go down this much.
Also dumped all my mining stocks FM FCX LAC CCO on April 21st.
I'm done with mining stocks. Too volatile. Lost all my profits and then some. Will stick with less volatile stocks like energy.
Made the right choice bc they kept going down.
I too have a bad feeling on this market and I think we've got alot more downside. And then there's Mr. Putin who seems intent on starting WW3.


----------



## Raggedy Dandy

investor65 said:


> Also dumped all my mining stocks FM FCX LAC CCO on April 21st.
> I'm done with mining stocks. Too volatile. Lost all my profits and then some.


I work in/for the industry and wouldn't touch these stocks with a 10-foot pole. Two reasons - first and foremost, my income is directly tied to it, so eggs and baskets and all that. Second, I have from time to time seen information which you would expect the market to react one way, and it goes completely opposite.


----------



## investor65

Raggedy Dandy said:


> I work in/for the industry and wouldn't touch these stocks with a 10-foot pole. Two reasons - first and foremost, my income is directly tied to it, so eggs and baskets and all that. Second, I have from time to time seen information which you would expect the market to react one way, and it goes completely opposite.


As of right now, FM is off 20.67% off its 52 week high. 
I don't need that kind of volatility.
And this is one of the best copper stocks out there.


----------



## zinfit

Fortunately I pretty well sold off my US passive ETFs by last Christmas. Some of these ETFs became active and eliminated fossil fuel stocks . They have a very large percentage of tech holdings. Microsoft, Apple, Google, Amazon, Tesla, Meta make up a giant percentage of the S&P 500. I repositioned into oil and gas, commodities, insurance and US healthcare stocks. I am up 3% year to date and I am not down 13% if I had stuck with the broadbased ETFs. When the wind is blowing very strongly in one direction I see little sense p..sing into the wind.


----------



## james4beach

I sold 1/5 of my Enbridge position, reducing the size. It had rallied a ton and become overweight in my portfolio.


----------



## Mechanic

Sold about 65% of my VET stock. Too much tied up, dividend return a pittance.


----------



## fstamand

james4beach said:


> I sold 1/5 of my Enbridge position, reducing the size. It had rallied a ton and become overweight in my portfolio.


Thinking of the same.
Ditched my xom


----------



## james4beach

fstamand said:


> Thinking of the same.
> Ditched my xom


I should mention though that I'm not exiting energy. I sold the ENB because it was a single overweight position, but I still hold XEG for the broad energy sector.


----------



## Covariance

Exited remainder of puts on TLT.


----------



## Raggedy Dandy

I find it interesting that this thread has been on summer vacation since the beginning of June, while the What Are You Buying thread hasn't taken many days off...


----------



## zinfit

Raggedy Dandy said:


> I find it interesting that this thread has been on summer vacation since the beginning of June, while the What Are You Buying thread hasn't taken many days off...


If oil gets below $ 85 I will sell at least half of my oil stocks. At this price it clearly breaks the 200 day moving average. Recesiion pressures will be effecting demand , the peak summer driving season is over and it looks like Europe has prepared well for the coming winter. Will hold on to m7y NG stocks, pipelines and Freehold Royalty.


----------



## Faramir

Selling ONEX.TO once it regains a few dollars.


----------



## AltaRed

I sold NFI recently with a cap loss....which will partially offset a large cap gain from a US stock sold in January (maybe February). I was asleep at the wheel about a year ago when I could have sold for a 'wash'. NFI should have a promising future with electric buses that will likely surge in orders any year now, but given NFI has been in (or near) breach of its debt covenants for some time now, a bad recession in 2023 causing a further dip in cash flow could tip them into further depths. I can always come back for another look in 2024.


----------



## newfoundlander61

Considering letting go my SU stock, I am thinking it won't go much higher and oil will likely retreat lower over the new few months. But who knows for sure, could use the money from the sale to buy other cheap solid companies that don't depend on the price of oil.


----------



## Faramir

Yes I sold mine on the monthly high thereabouts. Tempted to get back in as this oil fall should correct itself soon? Maybe? Maybe not? How bad is this recession to get and how bad is the supply situation?


----------



## AltaRed

I would not make any bets either way for 2023.


----------



## Ponderling

With the present dip is anyone thinking of selling non registered holdings to capture the capital loss, then buy the same holdings right back again?

We are with I Trade, so the hit would be 2x$10 per company stock. Average capital loss would for us would be about $2500 per company stock

I am thinking of doing this with long term holds as a chit to keep in my back pocket for the future when we may have capital gains owing. As far as I know, presently, you can elect to carry capital losses forward forever. 

I fear that with rising interest rates govt is going to get squeezed and paying tax on only half of capital gains rate going up is an easy hit to make on investors.


----------



## Covariance

Ponderling said:


> With the present dip is anyone thinking of selling non registered holdings to capture the capital loss, then buy the same holdings right back again?


To avoid the superficial loss rule one must wait 30 days before buying again. The motivation to crystallize the loss this calendar year would be driven by an ability to use the loss this tax year (to offset other gains), or a roll back to a prior tax year to reduce cash taxes. And, buy back at a lower price in 30 days. Selling and buying again at the same price has no effect on the eventual taxable on the position, all else being equal.


----------



## AltaRed

We have had this conversation recently, asked by J4B I think. I normally don't see much point in crystallizing a tax loss now for future use on a carry forward basis...unless one is highly certain of a major capital gain happening in the foreseeable future, e.g. 5 years. Like post #187, I would harvest a capital loss this year to help offset a capital gain this year (which I am doing for 2022), or to carryback to a prior year where I had a sizeable cap gain (and recover tax). 

For me, time value of the recovered tax is a key component of the decision.

P.S. I did some major tax loss harvesting in the 2008-2009 financial crisis but that was on the premise I was going to be selling investment property in a few years with a large capital gain (and did sell those properties in 2012 and 2013).


----------



## fstamand

Sold some MG, SHOP and NGK, just quick flips.


----------



## Eclectic21

Ponderling said:


> With the present dip is anyone thinking of selling non registered holdings to capture the capital loss, then buy the same holdings right back again?


No ... because I don't have a use for the capital loss anytime soon.




Ponderling said:


> I fear that with rising interest rates govt is going to get squeezed and paying tax on only half of capital gains rate going up is an easy hit to make on investors.


Other than adding the two commissions (one to the capital loss calculation and one to the ACB), how does this help?

If you sell stock A for a CL of $2500 and re-buy for the same price or lower, aren't you ending up with the same or higher CG at the higher inclusion rate? Sure, you have a $2500 CL but you have matching $2500+ increase to the future CG.

If you re-buy at a higher price, the future CG will be lower but you will have less money in the future.


Without a CG in the near term, it seems like a lot of work for unknown results versus letting it ride.


Keep in mind as well that in the future, if the OAS clawback is in play - the previous year CL does nothing to help one out. Only current year CL will help.


Cheers


----------



## MK7GTI

Exited my position in CU completely.


----------



## KaeJS

MK7GTI said:


> Exited my position in CU completely.


Can I have more context, please?

Why? Where did you put the funds instead?


----------



## MK7GTI

KaeJS said:


> Can I have more context, please?
> 
> Why? Where did you put the funds instead?


I've decided to exit a few individual positions. I will be increasing my position in XEQT and MSFT. 

Next on the list to exit will be MFC.


----------



## AltaRed

Over time*, I will exit certain individual positions as well, partly to fund my annual cash flow needs, but where that is not necessary, the proceeds will go into VEQT (or XEQT). I might have 15 years of coherent investing life remaining and my goal is continued simplification of the portfolio for my POA or Executor to deal with.

* Timing is driven by two things. Firstly, I don't sell depressed equities or bonds in times like these for cash flow needs, i.e. I tap into my cash reserves for that purpose. Secondly, current timing in depressed markets is relatively ideal for an equity-to-equity swap to minimize my cap gains bill doing the swap.


----------



## james4beach

AltaRed said:


> Secondly, current timing in depressed markets is relatively ideal for an equity-to-equity swap to minimize my cap gains bill doing the swap.


I'm planning to do the same, watching for TSX stocks to fall some more as that would minimize the cap gain. My 5-pack positions (RY, ENB, CNR, BCE, FTS) are kind of large so I'd like to trim the positions slightly and rebalance in the process. I am planning to sell some of each of those and buy XIC. My net Canadian equities will stay the same, but I'll reduce concentration.

No big hurry since I think they're great stocks. I'm going to run a mock tax return in December because I want to figure out where I stand with harvested capital losses, and some capital gains. My guess is there will be no significant cap gain problem, so I'll probably just go ahead and sell/rebalance all this in December.


----------



## londoncalling

@james4beach regarding your plan to rebalance. Is this rebalance a result of the 5 pack performing bettter than the rest of the portfolio or solely to diversify away from the concentration of the 5 particular holdings? It was my understanding that your 5 pack was not that large a portion of your overall portfolio.


----------



## james4beach

londoncalling said:


> @james4beach regarding your plan to rebalance. Is this rebalance a result of the 5 pack performing bettter than the rest of the portfolio or solely to diversify away from the concentration of the 5 particular holdings? It was my understanding that your 5 pack was not that large a portion of your overall portfolio.


It's more about reducing the concentration in those 5 holdings, but it's not really a big deal. The 5-pack is currently 9% of my overall portfolio, so not a large portion (as you pointed out) and each individual holding is < 2% of my total. Those numbers are OK. For example if BCE were to crash, no big deal when it's < 2% of my total.

However these stocks are still 57% of my Canadian equities, if I focus only on that segment. Not a huge issue at all but ideally I would like to trim that back a bit, and I might as well do it when I don't have to face capital gains.


----------



## Beaver101

SXP Supremex same day (a rarity), just in time for Black Friday ... LOL.


----------



## pearl

Covariance said:


> To avoid the superficial loss rule one must wait 30 days before buying again. The motivation to crystallize the loss this calendar year would be driven by an ability to use the loss this tax year (to offset other gains), or *a roll back to a prior tax year to reduce cash taxes*. And, buy back at a lower price in 30 days. *Selling and buying again at the same price has no effect on the eventual taxable on the position*, all else being equal.


I have a question regarding roll back prior tax years. I heard capital gain paid 3 years back can be claimed back if there is capital lose for the year. Let us say I have capital gain $10k each year in 2019, 2020 and 2021 and have paid the tax. If I have capital lose of $10K, I know I will be able to claim back the tax I paid for $10k capital gain. My question is does this $10k apply to my 2019 capital gain or 2021 capital gain? If it applies to 2021 capital gain, it means the capital gain tax paid for 2019 is not eligible to be claimed back for year 2023. Thanks in advance.


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## AltaRed

You can choose which of the prior 3 years you want to apply the tax loss too. For me, it would be the year that the carryback would give me the biggest bang for the buck, or if there is no difference, then as far back as I could, i.e. 2019. You can split it too if there is an advantage to doing that.


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## pearl

AltaRed said:


> You can choose which of the prior 3 years you want to apply the tax loss too. For me, it would be the year that the carryback would give me the biggest bang for the buck, or if there is no difference, then as far back as I could, i.e. 2019. You can split it too if there is an advantage to doing that.


Thank you AltaRed. It is great to know there is such option. I am planning to sell some stocks to harvest the lose. Thanks again.


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## james4beach

AltaRed said:


> You can choose which of the prior 3 years you want to apply the tax loss too. For me, it would be the year that the carryback would give me the biggest bang for the buck, or if there is no difference, then as far back as I could, i.e. 2019. You can split it too if there is an advantage to doing that.


I keep forgetting that one can carry capital losses backwards to previous tax years. That makes tax loss harvesting even more powerful.

In practice, how does one carry the loss backwards? Do you file an amended return for the previous year? I don't understand the procedure.


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## Covariance

james4beach said:


> In practice, how does one carry the loss backwards? Do you file an amended return for the previous year? I don't understand the procedure.


One does not amend. You file a T1A with your return.






T1A Request for Loss Carryback - Canada.ca


Form to ask for the application of a loss from the current year, to any of the three previous years.




www.canada.ca


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## james4beach

Covariance said:


> One does not amend. You file a T1A with your return.


Oh, I had no idea. So I would wait until it's time to file my next (2022) return.

And I'd file the regular 2022 return, but include T1A with it?


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## AltaRed

You can file the T1A at any time. It's been many (>5) years since I have done one but I think you do it right on CRA MyAccount, or do the fillable PDF and upload it on CRA MyAccount.


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## Covariance

james4beach said:


> Oh, I had no idea. So I would wait until it's time to file my next (2022) return.
> 
> And I'd file the regular 2022 return, but include T1A with it?


If the loss in 2022 yes. Or wait until after you file and separately submit as Alta mentions. If it’s a 2021 loss do it before the end of this year.


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## AltaRed

Yes, I should have said.... capital losses for 2021 or earlier. One can't deal with 2022 cap losses yet because any such losses must be first applied against 2022 cap gains before the residual can be carried back.


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## james4beach

AltaRed said:


> Yes, I should have said.... capital losses for 2021 or earlier. One can't deal with 2022 cap losses yet because any such losses must be first applied against 2022 cap gains before the residual can be carried back.


Ah, I see.

I did some really good harvesting this year (bond positions) so I incurred capital losses in 2022, but have not filed those yet. I'll have to file the regular 2022 tax return, and as you point out -- apply against this year's cap gains first, before looking at options to carry it backward.


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## Faramir

Sold YRI today. Looks like gold is turning over on this recent rally. Will see if I was correct.


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## Benting

Sold LSPD for lost and equivalent TD for gain. And bought RY with the proceeds.

This is the first time I try the tax harvesting. Don't know much about it. Can somebody recommend some reading material on this subject, thanks.


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## AltaRed

Here is one source Tax Loss Harvesting Canada

Another one Tax Loss Selling – Why Do It? - PWL Capital

Another one Tax loss harvesting - finiki, the Canadian financial wiki


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## Benting

Thank you AR.


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## Faramir

Completely out of my non-gold holdings including energy. Holding gold stocks and ETFs.


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## Ricehammer4416

Slowly selling off my energy stocks (CPG/ XEG). I've done very well - sold XEG at almost 100% gain. I'm down to about half of what I was a couple months ago.


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## james4beach

I did a bit of "net" selling, through a few transactions.

Yesterday I sold my 5-pack (RY, ENB, CNR, BCE, FTS) to realize a couple years of capital gains. I was able to harvest enough capital losses this year to nullify my TSX capital gains. So I sold everything to clear out the gains and reset my cost basis.

I set limit orders before the morning's open to buy all those stocks back, below my sell prices. Nothing too greedy, just a few cents below my sell price. I figure with daily volatility they were likely to fill. Then I got lucky and today was a weak day, so I ended up buying everything back for 0.35% cheaper on average. It's a dangerous game though, because the market could have also opened much higher and then I would have been forced to buy at the higher price. To mitigate that danger, I waited for a very strong day (Wednesday) to do my selling.

While doing this sell & buy, I reduced my Canadian stock exposure by 8% so it was "net selling". However my intention is really to rebalance, and I plan to redeploy that money into US stocks soon.

If tomorrow is very weak, I'll buy more ZSP tomorrow to complete the rebalancing.


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## Gator13

james4beach said:


> I did a bit of "net" selling, through a few transactions.
> 
> Yesterday I sold my 5-pack (RY, ENB, CNR, BCE, FTS) to realize a couple years of capital gains. I was able to harvest enough capital losses this year to nullify my TSX capital gains. So I sold everything to clear out the gains and reset my cost basis.
> 
> I set limit orders before the morning's open to buy all those stocks back, below my sell prices. Nothing too greedy, just a few cents below my sell price. I figure with daily volatility they were likely to fill. Then I got lucky and today was a weak day, so I ended up buying everything back for 0.35% cheaper on average. It's a dangerous game though, because the market could have also opened much higher and then I would have been forced to buy at the higher price. To mitigate that danger, I waited for a very strong day (Wednesday) to do my selling.
> 
> While doing this sell & buy, I reduced my Canadian stock exposure by 8% so it was "net selling". However my intention is really to rebalance, and I plan to redeploy that money into US stocks soon.
> 
> If tomorrow is very weak, I'll buy more ZSP tomorrow to complete the rebalancing.


You have to wait 30 days before buying the same stocks back if you want to claim the loss. If you sold and bought the same stocks back a couple days later, it will be treated as a superficial loss.

Superficial Loss: When employing tax-loss harvesting, make sure to consider the CRA's “superficial loss” rule. According to this rule, *investors claiming a capital loss on the sale of an investment cannot buy the same investment within 30 days of the sale*.


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## james4beach

Gator13 said:


> You have to wait 30 days before buying the same stocks back if you want to claim the loss. If you sold and bought the same stocks back a couple days later, it will be treated as a superficial loss.


I harvested the losses long ago (and did obey by the superficial loss rule). I already have the capital losses in the bag.

Between yesterday and today, I harvested *gains*, not losses. When I sold the securities I incurred a capital gain.

As far as I know this is allowed. I think capital gains are incurred immediately. And then on my tax return, I can apply my earlier capital losses against these gains. I hope I'm doing this correctly... someone correct me if I missed something.


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## Gator13

^ My bad. I should have paid better attention


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## londoncalling

@james4beach, I thought the 5 pack was your best performer YTD. I am always fascinated by the debate between rebalancing and letting your winners run. I understand the reason to sell and buyback from a tax perspective. Definitely a bit of market timing on your part to reduce your Canadian exposure and buy more US. As a stock picker I have no qualms with market timing. If the US$ weakens in 2023 I will be looking to add to US names over Canada in my registered accounts. Some 5 pack holders swap out annually others when they feel a change is needed. Did your 5 pack names remain constant during this repurchase?


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## james4beach

londoncalling said:


> @james4beach, I thought the 5 pack was your best performer YTD. I am always fascinated by the debate between rebalancing and letting your winners run. I understand the reason to sell and buyback from a tax perspective. Definitely a bit of market timing on your part to reduce your Canadian exposure and buy more US. As a stock picker I have no qualms with market timing. If the US$ weakens in 2023 I will be looking to add to US names over Canada in my registered accounts. Some 5 pack holders swap out annually others when they feel a change is needed. Did your 5 pack names remain constant during this repurchase?


These are good questions, and I have debated this with myself as well. Yes the 5 stocks remained the same: RY, ENB, CNR, BCE, FTS

As you point out, my 5-pack was my best performer YTD among all my stocks. It's up something like 1% while the TSX and foreign stocks are negative, so the performance is fine.

My primary goal with this transaction was to incur the capital gains. I just did a fake tax return over the last few days to check all these numbers, and I had a unique opportunity this year to pay no tax on capital gains. So I thought this is a good opportunity to reset my cost basis and save myself from future taxes.

That was the main goal through my Wednesday selling & Thursday re-buying. Now I guess I'm getting to your question about letting the winners run vs rebalancing/diversifying.

On this one, I let my intuition guide me. I have a spreadsheet that shows all my investments and my overall asset allocation. My stocks are spread around various places. What bothered me is that my 5-pack is the single largest item on that spreadsheet. The holdings are great, but it looked too big to me and I've actually wanted to "shrink" that item for a while now. 

But I think it would have been equally fine to leave the positions alone, or even to buy back the exact same number of shares (not shrink it). As I said, I just felt that it was a bit too large in my overall portfolio and I had this chance to adjust the position sizes with no consequence.


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## londoncalling

james4beach said:


> These are good questions, and I have debated this with myself as well. Yes the 5 stocks remained the same: RY, ENB, CNR, BCE, FTS
> 
> As you point out, my 5-pack was my best performer YTD among all my stocks. It's up something like 1% while the TSX and foreign stocks are negative, so the performance is fine.
> 
> My primary goal with this transaction was to incur the capital gains. I just did a fake tax return over the last few days to check all these numbers, and I had a unique opportunity this year to pay no tax on capital gains. So I thought this is a good opportunity to reset my cost basis and save myself from future taxes.
> 
> That was the main goal through my Wednesday selling & Thursday re-buying. Now I guess I'm getting to your question about letting the winners run vs rebalancing/diversifying.
> 
> On this one, I let my intuition guide me. I have a spreadsheet that shows all my investments and my overall asset allocation. My stocks are spread around various places. What bothered me is that my 5-pack is the single largest item on that spreadsheet. The holdings are great, but it looked too big to me and I've actually wanted to "shrink" that item for a while now.
> 
> But I think it would have been equally fine to leave the positions alone, or even to buy back the exact same number of shares (not shrink it). As I said, I just felt that it was a bit too large in my overall portfolio and I had this chance to adjust the position sizes with no consequence.



Thanks @james4beach. I recall your other thread on shrinking the 5 pack and this is in line with what you presented. Interestingly, after all the calculations and spreadsheets one still goes with their intuition. I do the same. It works well when I take the time to plan, run the numbers, and weigh probability. When I let emotion and and gut override the math it usually doesn't bode well. I plan to start a thread before the end of the year on this very subject. 

I don't see anything wrong with your choice but perhaps that is just confirmation bias as I believe there may be opportunities south of the border in 2023.


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## Covariance

londoncalling said:


> Thanks @james4beach. Interestingly, after all the calculations and spreadsheets one still goes with their intuition. I do the same. It works well when I take the time to plan run the numbers and weigh probability. When I let emotion and and gut override the math it usually doesn't bode well. I plan to start a thread before the end of the year on this very subject.


Look forward to your thoughts on this. FWIW i keep a written record of why I invest in something, and how I will evolve the holding based on market price, fundamental triggers. Trying to follow the plan is always a challenge.


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## james4beach

londoncalling said:


> I don't see anything wrong with your choice but perhaps that is just confirmation bias as I believe there may be opportunities south of the border in 2023.


I recently looked at some valuation numbers and I'm starting to think I might actually maintain my overweight position in Canada.

So the money I took "out of" my 5-pack may go into XIC, preserving my Canadian allocation. That's what I am leaning towards at the moment.


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## james4beach

I sold some gold (MNT) today. Rebalancing.


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## Tostig

I just made a sale this morning @mkt. I'll do the same thing in the next two days.

Those are the last three remining US stocks I held in an informal trust account for my two sons.

Although they have dropped in price significantly this year, I will still have to claim a capital gain after holding on to them for 15 to twenty years.

Now that I am retired and not collecting anything (yet, no CPP, no RRIF, no pension), I will be paying the capital gains tax based on the lowest tax bracket.


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