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#541 DavidSchell

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Posted 12 January 2018 - 05:34 PM

Yeah, I wish I had been at my desk when that happened. I think I must have been on the radio at that time.

I’d like to get in in the 15-18 range.

So what do you attribute that to? Favours? Clearing house for a huge short? A massive sell-off? It’s rare to see such a huge dip that immediately corrects.

Of course, it could have also been an AI glitch by a bot.

 

The problem with penny stocks is there are no MMs, so the bid can get thin and all it takes is someone to do a market sell of say 100K shares instead of  limit order and it takes it down, but normally it bounces back pretty quickly.

 

I see this happen more often than not and mostly in the summertime when the markets are slow.

 

Second day in a row WEED stocks got taken down ... I am thinking perhaps Tuesday might offer some good entry points for short term trades.


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#542 DavidSchell

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Posted 13 January 2018 - 06:50 PM

Starting to see so many signs the markets are starting to top ... all trading profits and dividend/interest income going into a cash account. Speculative long term money starting to navigate to gold.

 

Stock market crashes don't happen overnight, but after 40 years in the market you get a sense of when it is time to start building a cash position to take advantage of when the next bottom is in.

 

Gold and Oil continue to grind higher ... looking for gold to break $1350 before committing more spec money.



#543 spanky123

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Posted 14 January 2018 - 12:01 PM

lol, ouch!

 

Some parts of my income PF or down and some are up, but overall it stays around the same value and pays me consistent money each month, which is the goal!

 

feel exactly the same David. If the value appreciates then great but the income is fixed.



#544 spanky123

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Posted 14 January 2018 - 12:02 PM

The problem with penny stocks is there are no MMs, so the bid can get thin and all it takes is someone to do a market sell of say 100K shares instead of  limit order and it takes it down, but normally it bounces back pretty quickly.

 

I see this happen more often than not and mostly in the summertime when the markets are slow.

 

Second day in a row WEED stocks got taken down ... I am thinking perhaps Tuesday might offer some good entry points for short term trades.

 

Lots of folks I know routinely place lowball bids for penny stocks and then occasionally benefit when some novice does a market sell on a thinly traded stock.


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#545 Szeven

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Posted 14 January 2018 - 01:10 PM

Trading the downside on marijuana so far has been very technical. The 60ma on WEED will be interesting. I will be buying there if we hit it tomorrow. Last I checked around 26 something. If you have charts you can see ACB was perfect, LEAF overshot a bit but bounced huge, and ACB undershirt a bit.
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#546 spanky123

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Posted 15 January 2018 - 04:45 PM

So according to the IPSOS survey, nearly 50% of Canadians are less than $200 a month away from being insolvent and that percentage keeps increasing.

 

https://www.ipsos.co...ially-insolvent

 

So where are the defensive investment safe havens then?



#547 Mike K.

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Posted 15 January 2018 - 08:37 PM

The stocks we’ve been pushing!
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#548 VicHockeyFan

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Posted 15 January 2018 - 08:44 PM

Nearly one half (48%) of Canadians are $200 or less per month away from not being able to meet all of their bills or debt obligations each month, including 26% who say they already don't make enough money to cover their bills and debt payments, according to a new Ipsos poll conducted on behalf of MNP.

 

Residents of Ontario (29%) and Quebec (29%) are most likely to say they already don't make enough to cover their bills and debt payments, followed by those living in Atlantic Canada (24%), Alberta (21%), British Columbia (19%) and Saskatchewan and Manitoba (17%).

 

 

 

This is a pretty faulty survey.  While 29% of Ontarians say they do not make enough money to cover, they indeed do cover every month (perhaps 1-2% do not).  So they "earn" it somewhere.


Edited by VicHockeyFan, 15 January 2018 - 08:44 PM.


#549 Matt R.

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Posted 15 January 2018 - 09:02 PM

They are probably not earning it, but rather borrowing it, digging their hole deeper.

Matt.

#550 spanky123

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Posted 16 January 2018 - 07:44 AM

This is a pretty faulty survey.  While 29% of Ontarians say they do not make enough money to cover, they indeed do cover every month (perhaps 1-2% do not).  So they "earn" it somewhere.

 

Since Ipsos did the survey I think that it is likely pretty robust. I raise the point since it is expected that the BoC will raise interest rates by about 75 bps this year which for most people with mortgages would add more than $200 a month in payments once the mortgages renewed.



#551 Mike K.

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Posted 16 January 2018 - 08:00 AM

I put about as much faith in a poll nowadays as...

You know what I mean. These polls can be all over the place with their +\- 19/20 stuff.

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#552 lanforod

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Posted 16 January 2018 - 08:50 AM

Since Ipsos did the survey I think that it is likely pretty robust. I raise the point since it is expected that the BoC will raise interest rates by about 75 bps this year which for most people with mortgages would add more than $200 a month in payments once the mortgages renewed.

 75 bps shouldn't raise it more than $200/month unless your mortgage is well over half a million.

 

500000 renewal, 20 year amortization at 2.75% is a $2707/mo payment.

3.50% is a $2893/mo payment

4.25% is $3086/mo.

 

Most people in this country aren't carrying anywhere close to half a million in mortgage either. The average is like, 200k.



#553 spanky123

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Posted 16 January 2018 - 09:04 AM

 

 

Most people in this country aren't carrying anywhere close to half a million in mortgage either. The average is like, 200k.

 

True although those are not likely the ones who are $200 short of being illiquid. 


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#554 Mike K.

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Posted 22 January 2018 - 04:03 PM

johnk's NAC blew past its former 72 or 73 cent high to 80 cents today and closed at 79. Something big is going down Manitoba way, chatter suggests. It was trading in the low to mid 50's last week.


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#555 spanky123

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Posted 02 February 2018 - 11:41 AM

Pot and crypto stocks getting creamed this week down as much as 40%. 

 

Hope folks took some money off the table when they had a chance.



#556 Mike K.

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Posted 02 February 2018 - 12:25 PM

It's all about blockchain now. Crypto currencies are a complete mess, and if you didn't sell when your 10 bitcoins were worth $200k USD, what the heck were you thinking?


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