The week of December 4
- I bought 15 shares of TA.TO at $8.00. Commissions were $0.15. This cost me $120.15 altogether.
- There is $241.46 of available cash in the RRSP account and an overall total value of $3308.64.
I apologize for not writing about this trade sooner. I blogged instead about Costa Rica.
At the time, this seemed like a good entry. I was seduced by the monthly chart with rising bottoms and a big area above for the trade to move into – accompanied by increasing volume as seen on the daily chart.
I originally planned to buy 30 shares to make my position 75 shares. Remember, I bought 25 shares at $7.63 in April and then another 20 shares at $7.74 in June. I put the order in, but then I changed it. I just wasn’t sure about the market and the energy sector. Instead, I changed the order to 15 shares. I didn’t want to not take the trade in case it did work. I would have been hugely upset. Reducing the share number was my compromise. Boy am I glad because it plunged right after!
A lot of energy stocks were hit around this time. It might be just a temporary correction, or maybe it will be another while before this sector gets going again. We’ll see.
The Canadian market had some strong selling recently. It’s still holding, but if this keeps up, we might finally get the correction I’ve been waiting for.
I’ve got some charts to check out:
- FR.TO (I already own this stock.)
The metals could be making a comeback. They’ve been quiet/trading sideways all summer and fall. This could be their chance to shine. I really like the charts for FR and ABX. A couple of these tech stocks look interesting too. JP found TPK and I really like the monthly chart on this. The one I most likely will buy is TPK. I’m not sure yet.
I tend to be more cautious towards the end of the year as there tends to be a lot of selling as people start to offload their positions. You might want to just hang tight until the new year after you see how the year closes out.