Be careful when trading Sprott Physical Silver (PHS.U) in Canadian currency

I did somewhat of a real funny mistake today! I was so happy to be able to sell my 470 units of PHS.U at 15.67$! Especially knowing that the purchase was made at 14.88$ per unit. I had that bus ticket and other expenses I need to pay and I was truly excited about making a 300$+ profit on my sell of today 470 units of PHS.U at 15.67$. The only problem is that my profit was not of 300$+, but of 30$! Why? What happen?

At first, I taught it was TD Waterhouse fault. TD Waterhouse informatics system was down, something happen at the time of the transaction... I had made my sell at 15.67$ for the 470 units, I could see that in my order ticket. But the amount of money that appear in my Activity section was not of 7364.90$ (470 units x 15.67$), but of 7 049.68$. I was missing more than 300$ here! Where the amount went? Is TD Waterhouse stealing my money? What’s going on?

Well, TD Waterhouse did not steal any money from my account. I did a mistake and this mistake is from my own. It’s something I knew about but it never truly cross my mind. Because I had that bus ticket that need to be paid and I WANTED THAT 300 BUCKS!!!

Ok, so here’s what went wrong: When purchasing or selling PHS.U, there’s always something showing up about the currency that need to be check before placing the order. PHS.U is trading in US dollars. I knew that but... this has an effect whenever you decided to sell PHS.U. At this time, the effect is huge, because I could get that 7364.90$. What I been able to make from today PHS.U sell is 7 049.68$. This is just so funny!

Today, I made a 30$ profit out of my PHS.U sell, not 351.30$.

While trading Sprott Physical Silver (PHS.U), always keep in mind, even if PHS.U trade on the TSX side, it’s still in US dollars. This is confusing for the little investor that I am. But I will do better next time. I was told by a TD Waterhouse rep that it’s better to trade Sprott Physical Silver (PHS.U) in US dollars. It help to avoid the kind of crazy situation that I live today.... but just soo hilarious! One of the reasons why PHS.U is doing so well is that it’s trading in US dollars. I guess it could be one of the reasons. However, I am still a Sprott Physical Silver (PHS.U) fan, like to see it gain in value. I had been following PHS.U since November 2010.

I currently hold Sprott Physical Silver (PHS.U) in my TFSA. I am not in a rush to sell, but when PHS.U reached 20$, I will sell. Again... And that time, I will get my HUGE profit!!!!

In conclusion, TD Waterhouse never steal any money from me :)

Welcome K-Bro Linen Inc., 100 stocks of KBL in my portfolio

I decided myself quite quickly, I invest in 100 stocks of K-Bro Linen Inc. (KBL) at 20.25$ per stock. I am happy with this new investment which I believe will bring in a reasonable dividend and great stability to my portfolio. 

I don't plan to invest more at this time for today. Enough is enough and I want to get out of here!!

YEAH! I just sell 470 units of PHS.U at 15.67$!!!!

Now, my bus ticket Montreal-New Brunswick is fully PAID, thanks to the Sprott Physical Silver. It was 170$. Remember previously, I had purchased 470 units at 14.88$, I sell today at 15.67$ my 470 units for a profit of 351.30$ after commission fees. WOW! 

I couldn't wait for the Sprott Physical Silver (PHS.U) to hit the 16$ per unit...  If you don't need to cash in your Sprott Physical Silver now and your not in need of cash, wait for PHS.U to hit a 16$. Enter a limit order at 16$ for PHS.U and I am pretty sure that very soon, great money is going to be made from PHS.U, even better than now. 

In my case, I had many expenses to cover for this month. I am getting paid for this 2 weeks vacations, but add to that a little bit a shopping and not to forget that my mom is coming to Montreal. Fun, but that add up to the expenses. Ok, that 351.30$ profit could be seen at being nothing at all, it is not much actually, BUT that extra money in my pockets and I really need the money at this time. I wouldn't like to left something on my credit card because I cannot paid... Also, not to forget my online income of more than 140$ that I might had received by now... That make roughly a 500$! So yeah, the money is going to be use very quickly but gees, that's fun!

That's something to celebrate!

I currently have an extra 7 364.90$ in my broker account. My margin is down to 22 037.58$. Which mean I have 22 037.58$ at 4.25%. 

351.30$ goes in cash for my expenses. But what about the 7 000$+ left? What am I doing to do with the money? Invest or paid off debt? I taught about taking a 1 000$ to leave in my banking account in order to avoid the 3.65$ fees. It's soon the tax season. And maybe I will have a little extra to pay off... So I don't know if the whole 7 000$ will be use to invest. I am still thinking...

And by the way, Sprott Inc. (SII) is currently at 9$ per stock! I initially paid my stocks 10$ each back in 2008. Since 2008, SII played the yo-yo, which drive me crazy, but I was confident, I hold and now well, the Sprott Inc. (SII) is at 9$ and had paid this year a real fantastic dividend... 

The sun is out somewhere in the north of New Brunswick (where I am right now). I need to take fresh air. We are leaving tomorrow by bus for Montreal, me and my mom. Hello Casino, Biodome, Jean Talon market, Mont Royal, Eaton Centre, Oratoire St-Joseph, Stade Olympique and Old Montreal. Its going to be fun knowing I have a bit more in my pockets.