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Monday, April 20, 2020

New stock ideas: Innergex Renewable Energy Inc. (INE) and Sun Life Financial Inc. (SLF)

The TSX gains over 400 points this past Friday, closing the session on a good 14,359.88 points. Usually, in "normal times", a gain of 400 points is quite extraordinary, but in those volatile times, and since we went from +17 000 points to 11 000 points, and now up to the 14 000 points, in this context, a gain of 400 points is just what it is, a gain, a little move in a context of ultra volatility. We'll need a lot more trading days with gains of 400 points to get back in those old marvelous 17 000 points, but when it will happen, I probably will be in $300 000 net worth or really quite nearby or even maybe exceeding the 300k, considering my latest investments, which I consider as being excellent investments who will easily bring me to where my net worth belong: to the highest possible note.

In the meantime, my non-registered portfolio closed this past Friday session at $95,821.03, my TFSA portfolio at $77,287.68 and my RRSP portfolio at $43,144.35. I currently have $143.99 in cash inside my TFSA portfolio, coming from dividend distribution. The cash accumulates little by little, but at a point, it makes it possible to invest in a new stock using that money coming from dividend distribution. This down market makes it easier to invest because stocks had become cheaper, but it's however not a simple task to invest in such volatile market conditions that remain extra sensitive to anything and everything. Since I am almost 100% invested in stocks, the only way for me to go through this without being to badly hurt is to invest - again, again and again - in stocks, as much as I can, in order to get the most of what this down market has to offer. And of course, I am hoping that in a close future, the markets will go up again and reach - or exceed - the very good old 17 000 points.

Today was quite a strange day. Oil had now a negative value and despite that, the TSX closed today session still in the 14 000 points, more exactly 14,388.28 points. I guess the market was getting ready for such eventuality and that fact that it actually happens didn't hurt much.

Earlier this month, I came with a few interesting findings on Susan Brunner's blog, which conducted me to one of my latest investments: Power Corporation of Canada Subordinate Voting Shares (POW).
I am not just giving up yet and I am still looking around for new stocks to invest in. Other stocks that are included in that list caught my attention. For example, I wouldn't mind investing in Innergex Renewable Energy Inc. (INE), or even in Sun Life Financial Inc. (SLF).

I also had a look Ritchie Bros. Auctioneers Incorporated (RBA). I notice that stock before. And it,s now catching my attention because RBA lowest value, in the $38, was reached earlier during this current crisis, and it's highest value for the past 52 weeks was $58.94. Currently, Ritchie Bros. Auctioneers Incorporated (RBA) is trading at $58.30. It's quite interesting to see that despite the fact that we are still in this crisis, despite it all, RBA is still in his highest value for the past 52 weeks.

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