Buying low and holding is often not easy

Recently, I added to my TRP position when TC Energy Corp. stock dipped to $52.50. Today TRP has hit new lows. Right now it is trading at $48.18.

I have lost more than 8% of my investment, at least that is my paper loss. I feel a little guilty. I told folk that TRP was a buy -- and it was. But it does not feel like it was such a great buy at this moment. Ouch!

I can handle the loss. I'd rather not but investing is not without danger. One cannot time the market, as they say. Still, it is impossible not to want to try. I was trying when I bought at $52.50 and I was wrong.

I worry that a close relative, who bought some TRP, will not have the stomach for this loss and will bail out. I hope not. TRP will recover. It may not hit its target in the near future but it will certainly recover its recent 8% or so loss. My spreadsheet calculates that TRP is deep into bear market territory. It is 33.76% off its high of the past year.

What is the published target price of TRP today? Analysts see TRP climbing to $60.69 in the coming year. Maybe I should buy a little more TRP but I won't. I'm afraid of catching the not-so-mythical in this case falling knife.

But, if the TRP price should continue to collapse, I'd be a buyer at $45. With a dividend pushing 8%, TRP is a core holding in my retirement income portfolio. TRP is going to reward patience. Buy and hold is the correct move here, even though holding may prove more difficult that most non investor would think.

TC Energy (TRP) In my book, today this is a buy.

TC Energy (TRP) is flirting with its low for the past year. Also, it is off its high for the past year by about 25%. This puts the stock well into bear territory. I believe TC Energy is a solid company paying a dividend that a retiree can trust -- a dividend yielding more than 7% today.

Can TRP go deeper into bear territory? Sure. But, I don't see it losing any amount that I would find frightening. It has absorbed some big losses already. I cannot see more of the same happening in the near future.

Moments ago, I put my money where my mouth is; I added to my TRP position. I look forward to my first dividend in a little more than three months. My retirement income has taken a $744 pop with this purchase.