The Transparent RRSP: Breakout, Breakdown

The week of December 18
  • I bought 35 shares of TPK.V at $6.55 on December 18. It cost $229.25 plus $0.35 in commissions. There is $11.86 in cash left in the RRSP account.
TPK

TPK.V price chart on freestockcharts.com

Last Monday, I put in a limit order to buy 35 shares of TPK.V at $6.55 and it was filled at that price. I was so glad as it went straight up right after…until it did a reversal on Wednesday. It’s now back to my entry price.

I did the above screenshot the day I bought the shares. I commented on the monthly chart that this stock could trade sideways even longer. Sometimes with these bottoming patterns, you’ll find that there are a few false takeoffs before it really takes off. My hope is that it continues to trade sideways for longer, offering even more entry opportunities to add to the position. That way, if and when it does take off, the upward move will have a better chance of being sustained even longer.

The market didn’t budge much this week and I don’t expect it will next week. Trade volume between Christmas and the new year is usually quite low. There might be a bit of selling, but I don’t plan on making any trade decisions within the next week.


Already people are posting with glee that they’re on vacation. I wish you all happy and safe holidays! I hope to catch up again next week when I’ll be in Vancouver. 

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