[uNkNowN ElEmEnt]

$this->bbcode_second_pass_quote('', 'T')oronto stocks plunged on Wednesday as resource issues were hit by falling oil prices and belated concerns about the impact of high energy costs on global economic growth.
The energy sector tumbled 2.79 percent as oil prices hit a seven-week low near $50 after the U.S. government reported another weekly rise in crude inventories and a build in a gasoline stocks ahead of summer.
While oil prices retreated on Wednesday, analysts said investors were belatedly worried about how much of an economic toll the recently sky-high prices would take.

[RonMN]

$50 is low? the airlines are already doomed at $50

[frankthetank]

I could see if it goes down into the mid 40's, but 50? come one, thats still way up from a year ago and 8bucks off the record.

There economists, what do they know

[uNkNowN ElEmEnt]

$this->bbcode_second_pass_quote('', 'T')here economists, what do they know

[strider3700]

I'm just wondering what other canadians are using to trade stocks. I was looking at RBC since I bank with them and just like their banking it appears I'd get nickled and dimed to death.

http://www.stockbrokerguide.com/canadia ... rokers.php has a breakdown but they all appear pretty expensive. I only have 1 or 2,000 I'd like to play with but $30/trade and then $60/year in fees followed by $135 to transfer out the money in the end and it adds up.

best case with $1000 I buy 1 stock and a year later sell it and take the money. Thats 2x $30 for the buy and sell, $60 for the account maintenance and then $135 to get it out. 225/1000 = 22.5% so I basically need to pick a small cap and hope and pray because I seriously doubt GE will be going up 23% this year for me to actually make a profit.

If I want to be diversified and have 4 or 5 stocks I've got

10x$30 +60 + 135 or $495 in fees. Perhaps I'm not understanding some of the fees but the page seems very strongly oriented into sign you up and you can figure it all out when the first bill comes.

[teemu]

$this->bbcode_second_pass_quote('strider3700', 'I')'m just wondering what other canadians are using to trade stocks. I was looking at RBC since I bank with them and just like their banking it appears I'd get nickled and dimed to death.

[Andy]

I don't know much about them but investigate QUESTRADE. I think their fees is $10 CAD per trade. I plan on investing about $3000 or so in maybe a few companies like SUNCOR, CP Rail and CN rail.

[Dreamtwister]

This is (just one of) the ways they keep the poor out of the markets.

If you don't have at least $10,000 to invest, you might as well go hit the casino. Your odds of coming out ahead are about the same.

[Andy]

In a peak oil scenario, I think the focus shouldn't be so much on coming out ahead as holding on to durable long term assets that are peak oil resistant. Those guys investing in the WalMarts, airlines etc. will eventually lose in a very high price, scarce energy environment. Hence my choice of railroads, energy companies particularly small scale renewables, maybe metal mining companies and precious metals themselves.

[strider3700]

$this->bbcode_second_pass_quote('Andy', 'I') don't know much about them but investigate QUESTRADE. I think their fees is $10 CAD per trade. I plan on investing about $3000 or so in maybe a few companies like SUNCOR, CP Rail and CN rail.

[drew]

Watch out for those trading firms claiming 10 buck trades-like E-trade for instance. If you read the fine print you'll see that trades are only 10$ if you're making 20 trades-or so-a month. Yikes!!

I don't know about quest trade so check it out yourself...

I've been using TD waterhouse for a couple years now, and I like it. It costs 29 buck per trade for ten lots or less. TD bank really realy sucks, but I like waterhouse.

Drew

[strider3700]

Ok I've just heard back from RBC. I had the transfer fee wrong. It's free to move money from my investing account to my savings account. It's $135 to move the account to someone else say Etrade. They aren't the most clear about what fees are applicable and what aren't. The $60/year in fees is there but goes away if I keep $5000 in the account. Trades are now $28.95 Still questionable on if it's worth it at $1000 level. It's a hell of a lot better then it was though

[pitzel]

Interactive Brokers Canada -- www.interactivebrokers.ca

$1 US trades/$2 CAD trades. Only downsides is that you have to pay a minimum of $10/month commission, and you need an initial $3000 deposit. They have pretty good margin rates as well (much better than the banks) if you need margin for any reason.

I'm very happy with them. But do try and accumulate a bit more in a savings account if you can.

[uNkNowN ElEmEnt]

For information etc. my banker likes howe street.com. for a western canadian perspective.

[Maddog78]

Wow, we really have taken it on the head this week. An 800 point drop Monday, up almost half that the next day, flat yesterday and another 800 point drop today.
TSX has a lot of commodity stocks so it has been hit hard. My gold, oil and nat. gas stocks have been hammered but I guess I'll hang in there and see what the winter brings.

[Niagara]

$this->bbcode_second_pass_quote('Maddog78', 'W')ow, we really have taken it on the head this week.
An 800 point drop Monday, up almost half that the next day, flat yesterday and another 800 point drop today.

TSX has a lot of commodity stocks so it has been hit hard.

My gold, oil and nat. gas stocks have been hammered but I guess I'll hang in there and see what the winter brings.

[Delphis]

Lot's of porpoising (capitulation) in all the exchanges will be seen for a while.

Likely a result of the short selling rules imposed, the rumor mill, and our governments innate ability to keep everything divisive. We live in a 51% to 49% reality, that is part of this era. If they keep the illusion going that every debate on every issue is sooooo close, the losers think they just missed it and the winners feel like they just barely got by.

Tomorrow we should see another "dead cat bounce"

[kpeavey]

In other news, Canada has a Stock Market.

[smallpoxgirl]

Hey! You guy's by any chance wanna buy a $700 bn bailout package? It'll bet it'll help your stock market.

[jasonraymondson]

No,... seriously, canada has a stock market??? I thought you all used ours.
That is so cool, so do you guys measure everything in Maple Syrup values?