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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Goldberry who wrote (2444)	1/20/2002 1:47:56 PM
From: Peter W. Panchyshyn	Respond to of 11633

Peter maybe you could point me to a post where I said I sold my PWI at a profit? ----------------- Lets take a look to all that you said ,all that you implied and the chronology of events as they unfolded. A look to the graph of PWI shows that in mid november the unit price began to drop steadily from $7.40 to well below $6 in mid december. Near mid december at its lowest the volumes were well near 5 times the daily average. People like Lorne were bailing. But not you that is just so curious given what your postings during the entire period have to show. For one on Dec 4 your post # 2144 states that you are concerned about PWI. Later on Dec 14 your post # 2186 says that you sold a portion of PWI at a profit when it ran up in late november - the trouble is I can't find any confirmation of this. Maybe you would care to provide it. In that same post you show a private message which tells how totally disgusted you are with the company. Yet you still are a holder. You show managers salaries and state how they are ripping off the unit holders. Yet you still hold. On DEC 20 your post # 2329 you state how you are pissed with management. You want a lawyer to bring a lawsuit against the company. Given this and how the unit price is collapsing and volume on the downside is up 5 times normal and Lorne has already bailed. You are still holding. That is very very strange and just too unbelievable. Now we move ahead 8 full days to DEC 28 and with the recent record lows (your still holding) now then comes the runup from the lows to $6.50 you have still held on and have now sold out at $6.49. This is all just too well after the fact. IT IS ALL TOO UNBELIEVABLE. Especially given your comments and anger. ---------------------------------------------- Actually I lost on that trade. Why would I suggest to someone to buy a stock in which I have lost faith in management just because it went below $6.00. -------------- Much more importantly why would you be holding and not exiting onmass as the so many others were doing at the time. Especially given what you were saying in your posts ---------------------- I consider myself fortunate that it bounced back up and I was able to get out at just below my cost. ------------ Above you say at a loss. Now it is just below your costs. That does not jive with the facts. Especially when you said in post # 2186 that you sold a portion at a profit end of november at a profit. To be a profit from the graph you would have had to have bought PWI only a mere few days earlier and then sold it almost right away. Yet I can find no confirmation of this. If you did not buy a few days earlier then it was in fact much earlier at much higher prices. Hence your cost base is infact much higher then you lead us to believe. And not just below your cost ------------------ For what its worth if you read my post you will see that I rolled those funds and sold a major portion of my hr.un buying mrt.un at just under 8.20 a share. ---------------- Rolling the funds is not the point. The point is the trade and if that trade is at a profit or at a loss. If it is at a loss then that loss eats into any profits going forward. The issue has been the superiority of trading. It is not superior if it fails and produces losses from time to time. If in the long term of trading the hits and misses , gains and losses are 50-50 or less (as shown by Lornes documented results). The strategy is not superior. It produces realized losses. That is FACT. To tell joe average here they can do it and do it successfully is a lie. You say here and we are to take your word for it that you have one very small loss and a few big gains. Well it turns out that the loss may not be as small as we are lead to believe. Which begs the question of how big the gains really are if they exist. Which then leads us to ask about about other losses? How many, How big ???? Do the gains outnumber the losses over the long term? Are the losses much bigger and the gains much smaller? WE JUST DONT KNOW. But joe average is to take the strategy as gospel and go try it themselves. Funny isn't it that trading involves one side winning and the other side lossing. Are the traders here pushing trading because of its superior results. Or are they pushing it because they need some losers so they can be winners. --------------- You can look up my post and the prices of these stocks and you will find that the 2 I sold are now below my selling price while MRT.un is trading at about 8.80. ------------ I am not interested in the trading results themselves. What is of interest is that at times they fail. And REAL LOSSES are the result. All I have to show is that they fail at times and losses result. From that joe average can take that bit of info and decide if he wants to invest or if he wants to gamble (trade) with his hard earned money and maybe lose it. For my part ,and on my part, I show I accumulate on weakness, prices then recover, I collect good income, get more of that income when I buy more units even as the payouts drop, and take advantage of special situations (rights and warrants) that allow me to get even more units and hence even more income --------------------------- You implied that I am a trader which I am not I buy and hold stocks based on what I perceive to be the outlook near mid and long term. I have already admitted that I made a mistake nibbling back into the oil and gas trusts to early (in my opinion and thats all that counts when it is my money to lose) I consider myself fortunate enough to have been able to get out with a slight profit overall thanks to avn.un. I am still concerned that we may see further dividend cuts which will mean lower prices on the oil and gas trusts. -------------- Trading losses are REALIZED LOSSES. Accumulator losses are short term and are UNREALIZED LOSSES. They recover when the cycle repeats itself. That cycling is historical FACT and long term documented. No mistakes are made because no real losses result. Further cuts in income may come , lower prices for the commodities may come. But they will be followed by increases and higher prices. That is what has happened and that is what will happen. It is interesting to note that in the span of a month the price of oil has fallen to $17+ but has risen as well to $21+. And back again. That cycling has occurred over the years over the decades and it will continue. And all the while the trusts have paid out real and high current income. And More units can and are being picked up by accumulators at bargain prices that have already recovered somewhat. Those who foolishly trade again suffer real losses.------------------------