So the Canadian Royalty Trusts have been HAMMERED the past two days due to a stupid policy the Canadian government is trying to push through on increasing taxation. Without going into the details, the sell-off has been ridiculously overdone and there is some great bottom-fishing potential here. It looks like the big selling leveled off this afternoon and some buyers even started coming in around 2pm. What does this mean to Joe Q. Investor? Nothing because Joe would never buy a stock when it was down...he would much rather wait, miss the opportunity, and buy it $3-$4 higher than it is now and miss the easy money. Good thing that all you Margarita Lounge readers are not morons and you are out there buying PWI here around 22. Look out for the beeping flatbed because I'm backing up the truck.
If you have no idea what the hell I am talking about, thats OK. I'm just trying to sound smart and throw around a lot of technical jargon. Interpretation: Take a little money out of that savings account that is paying you didly, go to Ameritrade or Etrade and buy a little PWI. Even if it doesn't skyrocket up a few dollars (which it should), it pays a 12% dividend and that aint too shabby while you await the rebound.
No comments:
Post a Comment