We have reopened our basket of high dividend Canadian Royalty Trusts today with some bottom fishing in two names we currently like.

HTE - Harvest Energy Trust

PVX - Provident Energy Trust

We have held these in the past several times, tending to trade them without regard to holding period since the distributions (dividends) are paid monthly and are usually tax-advantaged, allowing us to pay the Long Term Capital Gains rates rather than ordinary income rates.

We will continue watching and adding to our basket as these and others we have held in the past make good technical reversals.  Others we are watching for new entries are… AAV BTE ERF PDS PGH & PWE

The DOW is flirting with it’s 50-Day MA @ ~8,940.  It would be a positive event if it were able to close above this trend resistance and rally strongly into the close today.

After being up nearly 350 points earlier in the day and then methodically moving lower until just about 30 minutes ago, we thought we may continue selling off into the close.

The reversal that began over these last 30 minutes has seen a significant improvement in UP volume but the last hour has been, generally, the weakest part of the day during this sustained downtrend.

Let’s hope for a confirmation move upward into the close and a close above the DOW’s 50-Day MA, which would be another step forward in this recent reversal since the 11/20 & 21 lows were put in.  

Coach BD

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The Trade Coach