Actions Taken the Week of February 20th
- Bought 24 shares of Canadian Life Companies Split Corp. (ticker symbol: LFE.TO) at $6.12 per share on Wednesday, February 22.
- This cost me $146.88 plus 0.24 cents of commission.
I had S147.60 left in the RRSP so I couldn’t afford to buy 25 shares, which would have made it a better bundle to manage. When you buy shares in ‘odd lots’ (not by the 100s), you sometimes run the risk of your order not all getting filled at the very price you want; or if you pay higher commissions per transaction, you will get better value for your trade costs when you buy in round lots of 100 shares, 200 shares, 300 shares, etc.
Times like this make me feel like a teenager who spent the rest of her allowance too quickly (only here I didn’t blow it all on bubble gum and nail polish). I now have 0.48 cents left in my RRSP, which means it’s definitely due for a re-up. To stay true to my commitment of regular monthly contributions, I will deposit another $150 at the beginning of March.
I found this stock when I was perusing the ‘Canadian Common Stocks’ tab on freestockcharts.com on Wednesday morning.
Even though the monthly chart wasn’t my ideal setup, the daily chart was too nice to pass up. When you see a three-month long consolidation with that kind of volume action, you pay attention. This could still consolidate longer, which means I might have to sit uncomfortably for a while, but if this continues to tighten up, I will buy more either in my RRSP (when I’m better funded) or my TFSA – or both.
Also, this investment company is a portfolio of four major life insurance companies, so if you can’t afford to buy shares of those individual companies, you can of this one and receive a nice monthly dividend to boot!
Don’t forget the RRSP deadline of March 1, 2017!
Claim your RRSP deductions and get a bigger tax return!
And when you get your tax return, invest it!