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Deleted member 50930
Guest
This was the next Shopify
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Stocks
- Thread starter Boots
- Start date
D
Deleted member 50930
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In this market I agree!!! Then put the profits in etfs + drip
It still may be. Looks unlikely to me but I've only looked into it for a few minutes.
Biggest question is should you buy the dip will it be up 60 percent by year end? May pick up some tomorrow.
Sent using a thumb maybe 2
D
Deleted member 50930
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Swing trade it.
That only works if you get a quick bounce. I've seen some predictions of the bottom at 55 or 70. Only briefly looked so I dont know if those are reasonable or not. Buying at 89 could still hurt.
I bought some. We'll see what happens. Up 5% now. Probably plan to hold for a bit.
Bought 1100 shares today as well lets see how it goes over the next week
Added some to to help offset the units I purchased at the end of September. ($128)
Will be waiting a while.
ReconAfrica and NAMCOR Provide Preliminary Results From the First Seismic Program in the Kavango Basin, N.E. Namibia, by @newswire
VANCOUVER, BC, Nov. 5, 2021 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) and its joint venture partner NAMCOR (the state oil company of Namibia) provide initial results from the first seismic acquisition program ever...
ceo.ca
Sent using a thumb maybe 2
Interesting information to consider for active traders. Investments taxed as income instead of capital gains (or even worse tax-free) makes a big difference on net return. Article is from 2017 but presumably the theory still applies. I used to buy and sell pot.to following a predictable pattern and aimed for 1% per day while I was in. This was inside my RRSP. If it had been taxed as income it would have sucked.
financialpost.com
"In the remaining ten months of 2009, he bought and sold stocks of 34 issuers costing about $2,500,000, involving 38 purchase transactions and 50 sale transactions, realizing a total gain of about $550,000. His average hold period of stocks was about 50 days and his average return on any particular stock was about 30 per cent."
Weighing all the evidence, the judge concluded that the taxpayer was trading in the securities as a business activity, or, at the very least, was buying and selling the securities as part of an adventure in the nature of trade. He reached this conclusion by considering that the taxpayer’s primary intention when purchasing the securities was to sell them at a profit as soon as a reasonable return could be realized. The taxpayer also spent “considerable time” daily monitoring markets beyond what he testified was required for his job. He was buying and selling regularly throughout the year and his holding periods were “clearly short and often very, very short.”
As a result, the judge held the taxpayer’s profits to be 100 per cent taxable as business income.
EDIT:
It appears that you can actively trade inside RRSP with relative impunity.
" the Tax Court in Prochuk stated: - “a person trading within his RRSP cannot be considered to be operating a business”.[5]"
Stop using your TFSA to frequently trade stocks — the CRA may see it as taxable business income
Jamie Golombek: You may be surprised to learn that your trading activity could constitute a business, even if it’s done inside a tax-free savings account
financialpost.com
"In the remaining ten months of 2009, he bought and sold stocks of 34 issuers costing about $2,500,000, involving 38 purchase transactions and 50 sale transactions, realizing a total gain of about $550,000. His average hold period of stocks was about 50 days and his average return on any particular stock was about 30 per cent."
Weighing all the evidence, the judge concluded that the taxpayer was trading in the securities as a business activity, or, at the very least, was buying and selling the securities as part of an adventure in the nature of trade. He reached this conclusion by considering that the taxpayer’s primary intention when purchasing the securities was to sell them at a profit as soon as a reasonable return could be realized. The taxpayer also spent “considerable time” daily monitoring markets beyond what he testified was required for his job. He was buying and selling regularly throughout the year and his holding periods were “clearly short and often very, very short.”
As a result, the judge held the taxpayer’s profits to be 100 per cent taxable as business income.
EDIT:
It appears that you can actively trade inside RRSP with relative impunity.
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D
Deleted member 50930
Guest
Yup dont be day trading with a TFSA
I think most of us knew that but an average of 50 day holds isn't all that short and 38 buys in 10 months isn't all that many imo. I have RECO in TFSA, it pays no dividend, I am unsure of its prospect long-term. There is a decent chance I sell it before owning it a year as it is pretty volatile. Obviously that alone won't raise the ire of CRA but if it had popped right after buying it I don't know if I would have kept it.
There have been theoretical discussions around TSLA or stonks within TFSA which could easily have your portfolio in seven figures (and it probably did happen for some people). At that point, to avoid getting kicked in the head by taxes, it probably makes sense to liquidate most of your position and buy a nice canadian dividend portfolio and leave it alone.
The bigger part of my post for me was investing getting taxed as income and not capital gains. Doubling tax based on how the CRA feels is not good. A lot of the stonks traders may set themselves up for this reaming as CRA could probably confirm that they spent a lot of time following the stock (how could you not with prices bouncing around so much?) and it is hard to argue that you think Gamespot is a great long-term investment at the price many people bought in. Now, is trying to create a short-squeeze savings or trading that is considered a business? Don't know. CRA doesn't like lines in the sand, they like grey so they can squeeze the little guys.
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D
Deleted member 50930
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They keep it vague to get us 
So far CRA have not bothered me
If GME short squeeze does happen and it gets to those insane prices I wonder what will happen
^ NFT
So far CRA have not bothered me
If GME short squeeze does happen and it gets to those insane prices I wonder what will happen
^ NFT
Asked my buddy how he's doing...apparently he bought 1k of BEZOG in May 2021....it's now worth 20k. FML. Scared or not, you can't deny the gains on these 'coins'.
Nothing near that good, but invested in something with inherent value, RESP is really close to 100% lifetime return (not including CESG). It may get there today.
Here I'm happy my Apple stock I bought sometime around '08/09 (not at the bottom) ticked over 20x% return today.
I bought some at the time around that time between $80 and $100 (split adjusted $2.90 to 3.60). I was contemplating maxing a LOC and going all in. I chickened out. It's $159.61 today. Whoops.
I want to say my cost basis is around $35 pre split. Never thought of going all in, but damn am I kicking myself for not buying more.
Edit: Didn't even realize, hit all time high today.
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