Since my last post I did gather a little bit of money and bought a few bank stocks; specifically Bank of Montreal and Royal Bank. They have both done quite well. I wish I had bought more.

Name/symbol          increase/decrease
BMO - BMO           +16.12%
RBC - RY               +19.27%


Then Monday [2013/04/22] I saw the big drop in Gold and thought "What a buying opportunity!". I borrowed some money, loaded up my TFSA and waited to buy some gold company stock. I was a little to anxious.

As we approached the market close, Golcorp, Yamana gold, and Barrick had turned from their downward trend but were only up 2 ~ 3% from their lows. I wanted to buy, I didn't want to miss my chance,  I didn't want to miss the market close, so I put in a buy order for all three. The orders filled just before market close. It is good I got what I wanted, but in my panic I didn't follow one of my basic rules; don't buy until you see at least a 5% increase.

But if you know, you know. If you are right, you are right; right?

Here are my gold stocks the next day;

Name/symbol                                  increase/decrease
BARRICK GOLD - ABX  -3.20%
GOLDCORP NEW - G  -3.35%
YAMANA GOLD - YRI                -3.50%

I think these stocks will eventually recover and go up, but it just goes to show, you never really know what a stock will do. You must let it show you. You must see a solid upward trend before buying. You must be calm, cool, and collected.

Now, I have just got to follow my other rule; sell if you see a solid downward trend.