trading too much

Trading has cost me 5% so far this year. That's unacceptably high. So, I bought PCU @ 115.01 to fill in the long side of my portfolio.

I bought PCU instead of RIO for a number of reasons. First, despite tripling in the last 52 weeks, PCU still has the lower P/E ratio. Secondly, RIO brought in 80% growth last quarter, which sets the bar unreasonably high. Thirdly, PCU might not be a takeover target, but its parent, Grupo Mexico might be pressured to protect itself somehow. And finally, there's the dividend which PCU keeps raising.

Now I'm just going to sit on my positions for at least a month. That should give me a couple of ideas for options while I sit on my cash and wait for Tribune (TRB) to drop below $25. If the buyout deal collapses, it's worth $10.