I was interested in purchasing some shares. This seems like a nice stock to own and monthly dividends seem rather nice. Is now a good time to be buying into it? I don't have much to invest with for now since I'm new to this and just starting out. I was wanting to start with 100 shares. Any insight is appreciated. I'm wanting to learn all I can about the market.
what do you want? appreciation? dividends? I have owned this stock for about 5 years and plan on adding shares today. I believe the share price will follow the price of oil and if the Israel/Iran thing escalates, oil will explode.
I also believe that we are looking at a market correction that will take down CanRoys with everything else this summer. I think there will be a better time to enter later this year than right now.
On the other side, if you do enter now I don't see this issue losing over time. Although I am tempted to jump out of the market right now, I will continue to hold my CanRoys, MLPs and international oil stocks.
I *hate* yahoo's forum tool. Sigh. The links above work, but you'll have to tack on the parts that Yahoo cuts off, and remove ')'s that don't get ignored, etc...
It's 2009, and we still don't have an edit function. That's right up there with rubbing sticks together to start fires. Arrrgh.
$8+ before the end of 2009 IMHO. Definitely a "Top 3" Canroy, as market forces are in synchronicity with it. Oil will be in the $80's before year-end as instability in Venezuela and in the BTC areas grows, as well as production cuts from OPEC will lower production forecasts....making Canadian energy that much more valuable w/a "security" premium. We'll see if the futures market agrees!
Good stock to get into? Most who read this board own it (other than a minority of shorts), so you'll likely get affirmatives to that question. As for now being a good time.....
We've recently had a 30-40% gain in the markets, on the absolute thinnest of news. Fundamentals for the world economies are still bad, and many indicators are getting worse. Many have been calling for a pullback for weeks, so you shouldn't be surprised to see the markets go through some pain in the near future. My own guesstimate are that we probably reach a near term low in June to early July.
If you want to make something of money you invest, it pays to "buy low". Unfortunately, that most often means putting money *into* an investment when things look their worst, not their best. Buy when people are puking, not partying. So wait until everyone around you are tearing up their 401k statements in disgust, and they're swearing off investing for life. Then buy, and get more shares for your money.
If you did that back on 3/9, in PVX, you'd be up 100% in value by today. Or more importantly, you'd have twice as many shares earning you dividends the whole time, compared to what you could buy today. My taste is for max shares, and as a re-invester, the gains from price appreciation are a bit of an annoyance, as it means fewer new shares each month. Further, when there are silly sick runs up in price, then I have to start thinking about selling some or all of my position, and begin waiting for the price to drop back down to sane levels. (More shares, yum).
I like PVX. It is probably reasonably priced at these levels. But I think you (and I) will be able to buy more in the near future than we can at the moment, if we play it smart and take advantage of the world's pain.
Disclosure: Own PVX, holding cash while waiting to buy more.