J ... I dunno about playing for nickels, but when I said I doubled up my position-- I went from 30,000 to 60,000 shares-- fyi, I sold into Friday's strength because there's big resistance in this area.
From page 56 of SaslPool's 2003 AR:
Convertible by the holder into Class B non-voting shares of the company at the rate of approximately 2,227.2 shares per $1,000 of note principal at any time prior to November 30, 2008 (subject to adjustment in certain events, such as a share consolidation or share split).
When you do the math there's the possibility of debt conversion in a big way ... anyway, I've done well with it in the last week or so-- I'll see where it finds support and edge my way back in.
As for CP and CNR, their recents Q2 reports are being powered by a terrific increase in grain shipments.
Excerpt from Orion Securities' CP research:
A 9.9% year-over-year increase in total revenues, versus our forecasted growth rate of 2.8%. The strongest revenue growth came from sulphur and fertilizers (+17.1%), coal (+14.1%), industrial products (+14.1%), grain (+13.3%), and intermodal (+8.7%). This strength offset revenue declines in automotive (-3.0%) and forest products (-2.4%).
I think it's a pretty good indicator of where an investor should aim the ol'shotgun.
...and do I golf? I'd like to, but I don't have the time ... investing is a 24/7/365-day occupation.
FP........................................................
