Still a good run there. I bought only 50 shares as this whole thing is brand new to me...#facepalm as well...
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Stocks
- Thread starter Boots
- Start date
Still a good run there. I bought only 50 shares as this whole thing is brand new to me...#facepalm as well...
-D-
Banned
You made money, case closed, move on. You made your profits.
Think of other scenarios where ppl lost all their money.
I don't understand why you wouldn't have left 100-300 shares to let it run.
Honestly, I had and still have very little trust in this Weed 1.0 crop of companies. I treated it as an overperforming penny stock and figured a scandal could break out anytime. I was swayed by the gimmicky marketing of Tweed and the Snoop Dogg association.
Did my first facepalm when CGC acquired Bedrocan. Thought it might be the other way around.
Anyway, BOL to all of you still in. Could certainly be epic. I figure one of the major tobacco co's is going to swallow it whole before long.
Did my first facepalm when CGC acquired Bedrocan. Thought it might be the other way around.
Anyway, BOL to all of you still in. Could certainly be epic. I figure one of the major tobacco co's is going to swallow it whole before long.
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I think so. But why not ride the wave? This is one to trade until you can keep some for free, I think.
One of the things that concerns me is the undertaking they provided to the exchange when they got listed (through an RTO with capital pool company):
"The Exchange has conditionally accepted the Acquisition, subject to the Issuer fulfilling all of the requirements of the Exchange on or before June 22, 2014. As part of its conditional approval, the Exchange is requiring that the Issuer deliver an undertaking confirming that, while listed on the Exchange, the Resulting Issuer will only conduct the business of production, acquisition, sale and distribution of medical marijuana in Canada as permitted under the Health Canada License."
I haven't looked very hard, but I don't know if the exchange has allowed relaxed that. I've heard of several of these, and hadn't actually looked to confirm it, but the TSX and TSX Venture Exchange were effectively telling companies that they could not enter the recreational space even if it becomes legal. If this undertaking is still in effect and people are buying CGC based on the premise that they're well positioned for the recreational market, it could be a mistake. That said, the exchange may have done that at the time simply for appearances...they'll likely be willing to make it go away rather than lose a listing. THAT's called INTEGRITY.
Nothing as of late would suggest any validity to the requirements, or so it seems. Volume & s/p through the roof recently.
I don't think I've been in 3 weeks yet, and half my shares are free. But. I'm holding. I'm in for the ride now. (play money) (hold OGI, BLO and NSP. Also gapping up good this am)
I don't think I've been in 3 weeks yet, and half my shares are free. But. I'm holding. I'm in for the ride now. (play money) (hold OGI, BLO and NSP. Also gapping up good this am)
I think so. But why not ride the wave? This is one to trade until you can keep some for free, I think.
One of the things that concerns me is the undertaking they provided to the exchange when they got listed (through an RTO with capital pool company):
"The Exchange has conditionally accepted the Acquisition, subject to the Issuer fulfilling all of the requirements of the Exchange on or before June 22, 2014. As part of its conditional approval, the Exchange is requiring that the Issuer deliver an undertaking confirming that, while listed on the Exchange, the Resulting Issuer will only conduct the business of production, acquisition, sale and distribution of medical marijuana in Canada as permitted under the Health Canada License."
I haven't looked very hard, but I don't know if the exchange has allowed relaxed that. I've heard of several of these, and hadn't actually looked to confirm it, but the TSX and TSX Venture Exchange were effectively telling companies that they could not enter the recreational space even if it becomes legal. If this undertaking is still in effect and people are buying CGC based on the premise that they're well positioned for the recreational market, it could be a mistake. That said, the exchange may have done that at the time simply for appearances...they'll likely be willing to make it go away rather than lose a listing. THAT's called INTEGRITY.
The Investment Industry Regulatory Organization of Canada (IIROC) is the market regulatory for all of the exchanges and other marketplaces in Canada. Essentially, IIROC monitors trading activity and enforces their Universal Market Integrity Rules (UMIR), the trading rules that apply to all regulated markets in Canada (yes, the rules are basically the same evertywhere). It took a long time to implement, and I'm still unconvinced it's the right thing to do, but IIROC finally introduced Single Stock Circuit Breakers (SSCB) to help address extreme volatility. The SSCB system is similar to the protocol in both Canada and the U.S. pursuant to which exchanges will shut down at certain percentage movements in the major indices. While the time of day (specifically, how much time is left in the trading session) is a factor, generally there will be short halt, then a resumption. If the movement continues unchecked, there will be a longer halt.
With the SSCB, the same approach applies to a single security that moves too much in too short a time - it gets halted for five minutes and then resumes. It's supposed to give everyone an opportunity to pause and reflect.
Check your market data - the pot stocks are triggering SSCB halts all over the place today. This is what our regulators like to refer to as "irrational exuberance".
On CGC, it could be short covering in panic - $17??
With the SSCB, the same approach applies to a single security that moves too much in too short a time - it gets halted for five minutes and then resumes. It's supposed to give everyone an opportunity to pause and reflect.
Check your market data - the pot stocks are triggering SSCB halts all over the place today. This is what our regulators like to refer to as "irrational exuberance".
On CGC, it could be short covering in panic - $17??
SweetOnion
Well-known member
I don't know about you guys, but I have been online so much in the last couple days on Waterhouse, mostly yesterday of course, that it has consumed all my time. I made 11 trades yesterday, all on weed stocks... the most I have ever done in a day. Some was stupid, I am sure, but it had to be done... at one point when they were all simultaneously halting around 11:00 I noticed they were resuming down about 10%+ ... finally when MT was halted I decided when it unhalted to buy some. I bought 500 shares and then sold them 3 minutes and 41 seconds later for a profit of $280. Within 10 more minutes it was below what I bought it for originally.... total luck. I also had a limit order in to sell 1750 shares of OGI at $4.20, only 400 sold so I dropped it to 4.18 and got totally lucky an hour later when all but 50 of them sold... I feel very fortunate that I didn't wind up down after the week is over, but all in all I made out quite well on a % basis. Hoping you guys have stories of good things as well.... my poor buddy here at work wanted to ride the wave a little too long, ended up losing 16K in profits yesterday... see rain picture above.
Good work!
I spend a lot of my time watching, but I'm restricted from trading so many of them that it's mostly that - watching. I can imagine there are some lucky and some really unlucky people that are getting whipsawed on CGC volatility. The daily volatility for a stock in that price range on the TSX is a little unsettling.
I spend a lot of my time watching, but I'm restricted from trading so many of them that it's mostly that - watching. I can imagine there are some lucky and some really unlucky people that are getting whipsawed on CGC volatility. The daily volatility for a stock in that price range on the TSX is a little unsettling.
Thanks Gary - it looks like MEG generally follows the crude price, but with less volatility than something like Baytex (BTE), which is one of my faves to trade.
...or the opposite as people come to their senses. Opened at $12, down $0.60. Traded up to $12.45 before the freefall down to $11.00. Looks like it go sideways for a bit. Judging by the last several days, there should be gradual slope up, then a gentle slope down, then a spike at the end of the day. The trick is figuring out the range....
BTE (from what I remember) had a nice pop, after oil settled. (never owned it).
I don't have any MEG either, just put it out there, for, uhhh, ya, reference.
I've held SGY.TO for a long (long) time. I'm almost even...lol. It's just the (altho they've been beated down) divs that keep me holding.
Only 1 HALT on CGC.TO so far today. Up and down a quick buck a couple times too.
SweetOnion
Well-known member
...or the opposite as people come to their senses. Opened at $12, down $0.60. Traded up to $12.45 before the freefall down to $11.00. Looks like it go sideways for a bit. Judging by the last several days, there should be gradual slope up, then a gentle slope down, then a spike at the end of the day. The trick is figuring out the range....
I saw it Halt and then it opened back up at $10 something.... It jumped back up fairly quickly to $11.45ish... I put a limit order in for 100 @ $11 and it filled a few minutes later. BACK IN THE WEED GAME.
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