This may explain some of the trading this week at closing. Here is one trader's sad and sorry experience.

The Plan, since who has $10,000 cash to put in to husband and wife TFSA's that isn't already into CUU?, was to transfer CUU shares from the margin account to the TFSA's. Now since CRA has decided the process should be more difficult than necessary just for fun, the Brokers have to transfer the shares at the value at the end of the day. Of course, since you can't go over the $5,000. TFSA limit, you have to select a conservative number of shares to transfer, since you don't know what the transfer price will be, and if you are optimistic like me, you think the stock price will go up on the day's trading. And since your order has to be share specific, the Broker can't top up the shortfall at the end of the day. So once you get through the first day and know the value of the shares traded, you then have to go through the same process the next day ... and so on. And I guess the end result will be to come as close as possible and then put a little cash in to top up the $5,000. I don't know - I'm still going through the process.

And then you find out that you can't transfer from your margin account into your's wife's TFSA without completing transfer the necessary forms, which takes a few days to process and so you figure it is easier just to sell and buy back in your wife's TFSA after the dust settles.

So - memo to file for next year. Sell in December and have the cash ready to buy on the first eligible date which should be 3 trading days before January. This "swap" idea doesn't seem to work well anymore if you have a ceiling. I thought it would be the best way to hedge against a possible share price increase and not be exposed.

I don't know if any of you had similiar experiences but it's not good for the blood pressure.