Thursday, March 7, 2013

I sold some Suncor

Hello freakosphere!

After a buy in gold, I sold a tiny portion of what has been these past years my largest holdings, Suncor (SU) that is.

I sold 25 shares @ 31. 72 $ Like I said, it's nothing to write mama about (just a post!).

Like ABX, SU has been on a roller coaster ride since my first buy in 2010. A lot of ups and downs -- mostly downs. 

There now seems to be a willingness to return more to shareholders. But before that a company has to make much profits. Their dividend policy is still very conservative, to say the least.

Our petrol company are finding it harder and harder to finds ways to redirect their gas through to the US and the eastern part of Canada.

Our prices are now hardly challenging the ones from the West Texas Intermediate market. 

To open even more the market, companies are looking other means of transportation. Like trains! No wonder why railways companies shares, like CP and CN, have caught fire recently.

Still, the situation is not as bleak as it looks. SU has recently posted some good results anyhow. So there is hope. I will however monitor the situation closely.

With 300 shares, Suncor is still one of my top 3 holdings. It's worth a close follow-up.

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