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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (2432)	2/23/1999 9:24:00 AM
From: BradC	Respond to of 4467

<3/4 of my trades are done from my RRSP account> Good point. This is a big ace for the Canadian brokers. Having a captive market shields them from a lot of the competitive heat coming from the US.

To: keith massey who wrote (2432)	2/23/1999 10:32:00 AM
From: BradC	Respond to of 4467

Canadians invest abroad cbcnews.cbc.ca Michael Colton reports for CBC radio [Download Players] Canadians invest abroad, put less cash in RRSPs WebPosted Mon Feb 22 20:30:54 1999 TORONTO - As the RRSP deadline approaches analysts say contributions may end up being about a third lower than they were a year ago. Investment strategists say Canadians are being tempted to invest their cash in foreign funds. Right now to have that money registered and qualify for the government's tax break on RSPs, foreign investment can't be more than 20 per cent. Many in the mutual fund industry were hoping Ottawa would raise the foreign content limit in last week's federal budget and give investors some choice. But finance minister Paul Martin says the time isn't yet right to up foreign content. "It has essentially to do with world markets, the very heavy indebtedness we have as a country in terms of the debt to GDP ratio," Martin says. "I basically would like to see a bit more stability out there." Economists say waiting for stability is alienating foreign investors and guaranteeing low returns for Canadians. Sherri Copper at Nesbitt-Burns says Ottawa has trapped RSP investors and artificially boosted the value of Canadian stocks by turning the TSE into a captive market. "I think that it means once again Canadian investments will continue to underperform and Canadians themselves will not enjoy the kinds of returns in their retirement savings plans that they certainly deserve," Copper says. Canadian investors saw another year of negative returns while investors in the United States and Europe enjoy strong returns. For some investors the temptation of stronger returns is great enough to skip the tax benefits and exceed the foreign content limit. Dan Richards of Marketing Solutions says "There's no question that a tax shelter that shelters the tax you have to pay but ends up driving down your returns is not a bargain."

To: keith massey who wrote (2432)	2/24/1999 11:06:00 AM
From: keith massey	Read Replies (1) \| Respond to of 4467

Finally got around to pulling the last of my money out of Etrade yesterday. I had a good conversation with one of the service reps about why I was closing my account. He agreed with all the points I brought up - slow service, no stop losses, no shorts. What I didn't know is that Etrade Canada is going public this year. According to the rep. they need the money to upgrade their servers and get the technology for doing shorts and stop losses. If they ever get around to upgrading their systems I will take another look at the service. Until then I am staying away. Best Regards KEITH