Congratulations to Michael P. of Ontario, Canada for winning the first ever Trader's Blog contest. You will receive your iPod touch courtesy of MarketClub.com and INO.com shortly. Thanks for everyone who participated. It was fun to read those could-a, would-a, should-a moments... now it's time to make them happen.
We asked visitors to write about a trade that they wish they would have entered. Here is what Michael wrote:
"One of the best Canadian stocks to play the Canadian Oil Sands is Canadian Oil Sands Trust…COS.UN on the TSX. Around October 2006, rumors started swirling around in the Canadian press that the Canadian Federal government was going to tax all the Income trusts like a corporation, thus any owner of Income trusts would pay double taxes. Well on Oct 31st..Halloween..after market close, they confirmed these rumors. When the market opened on Nov. 1st, COS.UN plunged to a low of $24.32, over 20% in one day. It scared everybody including me because I owned 1300 units. I wish I had taken the contrary view that day and bought more. I would have realized a gain of over 100% in a little over a year, not to mention the 50% increase in the dividend payout since that time!!!"
We plan to have many more contests, so stayed tuned and keep interacting with us and again congrats to Michael.