The latest trade was buying shares in Sirius XM Canada last week, when they were priced at a bargain basement $7.55. At this price, Sirius had a dividend yield of 5.6% (that does not considering the special dividend paid earlier this year). I've analyzed Sirius's financial statements and feel that not only is the dividend sustainable given their free-cash-flow generation, it could actually be increased provided operating and capital costs are kept in line. Today, through a limit sell order, I sold my share of Sirius at $7.76. Since my short-term trades have been done in my TFSA and RRSP, there are no taxes, only $20 in total brokerage fee transaction costs.
My short-term trades have been infrequent because there are very few Canadian companies that I follow closely that I'm not already invested in. Furthermore, I like shares in these companies to fall about 3% on no news before I'd consider investing in this manner. This short-term strategy is not something I'd recommend for cautious investors. That said, so far this year, for me, the returns have been worth the risk.
(Disclosure: No position in Sirius XM Canada or Alaris Royalty at this time)