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Old 05-23-2009, 10:40 PM   Nav to Top  #1
KaPow
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Default 05-25: BCE (TSX/NYSE)

BUY: BCE Inc.

It looks like BCE may finally be a decent buy. BCE has been under pressure for the past several days, languishing well behind the TSX Composite Index. From the price action on Friday, it appears that TD orchestrated a cross-trade between the Ontario Teachers' Pension Plan (OTPP) and some of its other clients at the $23.00 mark. Talk about stock price manipulation! This meant the stock had to drop from its opening price of $24.09 all the way down to $23.00 to legitimize the trade. Funny how it was able to do that and then completely recover to close 4 cents higher at $23.91. Over 44 million shares changed hands Friday, well above the usual 1 to 8 million share range over the past 3 months. Now that OTPP (who is also being sued by BCE over their failed takeover) is supposedly out of the way, coupled with the total price recovery from the drop on Friday, we may finally see some decent upside on BCE. It is also a dividend play.

For what it's worth, American Bulls issued a "Buy-If" on the stock citing a High Wave candlestick formation. See the URL below:

American Bulls: BCE INC

Here were the key trades of the day, accounting for over 30 million shares:

Date / TimePriceChgVolumeBuyerSeller
2009-05-22 10:51:50 23.00 -0.87 9,685,500 7 TD Sec 7 TD Sec
2009-05-22 10:51:50 23.00 -0.87 214,500 7 TD Sec 7 TD Sec
2009-05-22 10:51:51 23.00 -0.87 9,900,000 7 TD Sec 7 TD Sec
2009-05-22 10:51:52 23.00 -0.87 9,900,000 7 TD Sec 7 TD Sec
2009-05-22 10:51:59 23.00 -0.87 1,510,200 7 TD Sec 7 TD Sec

Here is BCE's recent dividend information for their common shares:

Declaration Record Payment Amount
Dec 12, 2008 Dec 23, 2008Jan 15, 2009$0.365
Feb 10, 2009 Mar 16, 2009Apr 15, 2009$0.385
May 6, 2009 Jun 15, 2009Jul 15, 2009$0.385
Aug 5, 2009 Sep 15, 2009Oct 15, 2009$0.385
Nov 11, 2009 Dec 15, 2009Jan 15, 2010$0.385

If you want to capture the next dividend, make sure you are a shareholder of record on June 15. By my calculation, this means you need to buy on or before June 10 and hold at least until June 11. Double check this date with your broker or BCE to be absolutely sure. Good luck!

Last edited by chuckd; 05-23-2009 at 11:09 PM.. Reason: Added Tag
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Old 05-24-2009, 11:56 AM   Nav to Top  #2
Miles
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Not enough upside for me either but thumbs up for me for your DD on this post.
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Old 05-25-2009, 12:08 PM   Nav to Top  #3
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I hope some of you caught some of this rise. It's up almost 3% this morning.
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