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Thursday, June 16, 2011

Horizons BetaPro COMEX Silver Bear Plus ETF (HZD), it’s now your turn

Currently, I am doing a big fixation on my non-registered portfolio and you may find it repetitive or extremely boring, but a girl needs to do what she needs to do. Meaning I need to monitor closely my non-registered portfolio because of my margin account and of course, I didn’t find better to do than just to blog about it!

At this time, my portfolio is at 110 641.41$, up of 185.41$ compare to yesterday. This is not significant gain, but it’s a good record knowing that the TSX darling is at 12 960.62 points, a loss of 11.41 points. Not too bad. I am still in control of my margin account at this time and I was very happy to sell Horizons BetaPro NYMEX Crude Oil Bear Plus ETF (HOD) yesterday. Now, the next big thing is the selling of Horizons BetaPro COMEX Silver Bear Plus ETF (HZD). I wrote a lot about Horizons BetaPro NYMEX Crude Oil Bear Plus ETF (HOD) and Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) lately, but it’s because those 2 investments had drained me. I had used margin account money for day trading purposes. What an awful decision. Everything went fine in a relatively good Toronto stock market condition, but currently, with what’s going on in Greece, the market is extremely sensible and my margin account could suffered if I am not careful.

I didn’t have that much trouble monitoring my portfolio when the catastrophe hit Japan. Since the economy was already week in Greece, I think the market respond to that is exaggerate. When the tsunami hit Japan and provoke a nuclear disaster, the TSX did not plunge like that. And Japan is the third economic country of Earth, from what I understood. So to me, this is not making any sense. While Japan was facing the disaster, the TSX did not crash, but it’s crashing now because of Greece, Greece who never had been an economic powerful country. So because of that, I think the TSX will recover quickly. Remember: the stock market has a short term memory.

All this is strictly in term of business. However, I feel sadness for what’s going on in Greece and I just hope for an economic release. I read quite a bit on the topic and what seem to be the best solution will be for Greece to go back to their old currency and declared bankruptcy. From my understanding, it’s the only way for Greece to reconstruct themselves. A lower currency value could volume tourists and maybe exportation. Another problem being that Greece does not do enough of exportation. Anyhow, all this being interesting, but personally at this time, my only concern is to make a 1 000$ payment on my margin account by tomorrow morning, sell Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) and keep my margin account in control. I may able to do that. The most difficult part is Horizons BetaPro COMEX Silver Bear Plus ETF (HZD).

And in case you wonder, yes, Xavier Rolet is still among my financial guru and I still plan to vote in favor of the merger of equals. We will discuss in a later post the merger of equals and the reasons why I am now planning to vote YES.


Funny said...

It's not just Greece ... China, India, and Brazil are slowing down their economies on purpose because of inflation, what do you think that's supposed to do to commodity prices and the TSX?

Sunny said...

I don't know. But when China came out with his data, the effect on the TSX was positive. I am just commenting my situation with what I know and what I have in front of me as info.

Jan said...

Greece itself is no big deal (their economy is about the same size as Ontario's), but if they went bankrupt it would set a dangerous precedent that could be followed by countries like Italy, Spain, Ireland, etc. On top of that, China has developed a dangerously large property bubble with tens of millions of overpriced empty apartments, and the American economic recovery is stagnating. Basically economies worldwide are in a very risky position right now.

Sunny said...

Hi Jan, thanks for commenting.

I kind of see what you mean. All of this is so complicated. I don't think I will invest for a little while and keep the little cash I can save in my pockets.


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