I decided to trim a few stragglers and re-deploy my money... For those of you who are focused on the "crazy" or "gambling" aspects of the market then yes, this comment means I took a few losses as I have given up waiting for the companies in question to turn things around.
The results from the trimming both reduced my margin outstanding and I did buy a few new small positions of things I'm interested in looking at more closely. So my monthly income is HIGHER even though I took a bit of a loss.
Goodbye Citibank! You suck! You were the market darling in America up to 2007 but really the big collapse is your fault. I've given up waiting for you to get your act together. It looks like you're not about to disappear but really, you need to stop paying the top level people such crazy salaries and get back to business of helping your customers rather than inventing new ways of re-branding crappy loans.
I also cut a couple of the smaller oil/gas drillers/exploration companies that have disappointed. They might turn around, but I'm bored of waiting for them.
In this sort of market, you really do need to actively trade and not fall in love with these small holdings... Bigger "forever" type holdings however (which make up the bulk of my holdings) can be mostly ignored.
New positions include Partners REIT. They are small, and look interesting to me. They recently switched from the CVE to the TSX and pays about a 8.5% yield at todays market price.
