As I noted in my post on Saturday, my Canadian timer was set to generate a long signal today if the market closed higher. Knowing that the long signal was guaranteed, I bought some Horizons Beta Pro S&P/TSX 60 Bull units today.
I have always maintained that there is no such thing as a perfect timer given the degree of randomness in the market. However, the last get-out-of-the-market signal saved my skin. From the “get out” signal on June 12, 2008 to this evening, the S&P/TSX composite index is down 39.3%. The path from here on will be anything but a straight line and will test our resolve to stick with our investing methodology.
If you are following me on Covestor you know that I have made several energy purchases lately, namely Horizons Beta Pro S&P/TSX Capped Energy Bull, Canadian Natural Resources and Niko Resources. The gains on these three are 32%, 16% and 5%. I also bought Bank of Nova Scotia which is up 25%.
FJP
