Comments on: Tech Talk for Wednesday December 23rd

By: Don Vialoux

Don Vialoux — Wed, 23 Dec 2009 22:36:25 +0000

Hi Pauluck. Intermediate technical profiles are based on a series of technical indicators include trend, moving averages, momentum indicators, etc.

By: Don Vialoux

Don Vialoux — Wed, 23 Dec 2009 22:34:40 +0000

Hi Pierre Martin. Last trade day in 2009 for Canadian equities traded on Canadian exchanges is December 24th because December 28th is an official holiday in Canada (Boxing Day) and Canadian exchanges are closed.

By: David

David — Wed, 23 Dec 2009 21:17:53 +0000

Ropy
Great nugget.
Exchange rates, bid / ask, always confuse me.
On Dec 16th, I sold a Cdn MMF (not TDB) to buy the US$ TDB166.
TDW charged 1.0735, got 1 $US for each 1.0735.
How would I determine how much better I could have done following the approach you recommend?

Other David
‘Wash’ is the term the brokers use for the action.
It covers the buy / sell the foreign $ MMF as the funds source / depository when you buy / sell a foreign denominated issue.

By: Ropy

Ropy — Wed, 23 Dec 2009 20:43:44 +0000

David, Jeff and 300m…

Also remember to watch the currency conversion rate that they charge. The bank-owned fund companies charge an EXORBITANT rate (very wide bid-ask) vs. the independents. Best thing is to buy the $CDN money market fund and then do a ‘switch’ transaction from CDN$ MMF to US$ MMF using the fund co’s currency conversion, not the brokerage firm’s rate.

By: David

David — Wed, 23 Dec 2009 19:58:18 +0000

David or 300m,

What exactly is “wash” in reference to the above?
I am new to trading so any knowledge i can gain would e much appreciate,
Thanks in advance and Merry Christmas.

By: Mael

Mael — Wed, 23 Dec 2009 19:21:27 +0000

Hi David:
What you said is absolutely the right way to do it. I have been doing that for awhile. The only comment I would like to add is that the transaction taking place has to be made via the phone in lieu of online. However, your discount brokerage firm should charge you the same commission fees as the online one because you couldn’t not execute with it online.

By: pauluck

pauluck — Wed, 23 Dec 2009 18:46:48 +0000

Hi Don,
I am learning to read charts,you always mentioned about the stock has a positive or negative intermediate profile,how can one tell? please explain, thanks

By: David

David — Wed, 23 Dec 2009 17:42:26 +0000

TDW will keep US$ Money Market Fund (for this washing action) in a RRSP acct.

By: pierre martin

pierre martin — Wed, 23 Dec 2009 17:29:18 +0000

Don,
Dumb question re: last selling day for tax selling.
Wouldn’t the last day be 28th Dec, for settlement on 31st?

By: ES

ES — Wed, 23 Dec 2009 17:20:12 +0000

David,
Some broker offers keeping USD in RRSP account.
Questrade comes to mind