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4) Continue to flip it every T+2
Then why do the posts get so excited when there is a little bounce? Can't have it both ways... complaining and celebrating are going to happen.
Not really a single day. Down 50% since January
Good. That means my modest piece of Aurora will yield more returns for the time being.
I was just stating my concerns. Dilution (no banks to borrow from) and Oversupply (hundreds of companies already, followed by many US ones when they legalize too)
But I am concerned about the dilution not only in this company but sector wide (but more so here) and oversupply. The US will not stand idly by, and many many more companies will start up ... then it'll be dog eat dog.
Newer US companies might be more attractive to investor Joe due to less to no dilution
Yep, I do, and that's why I'm in this game.
I hope so, but I'm not holding my breath.
sure, but that is pretty far down the road IMO.
Yes, the whole sector is down. A few posts ago I provided my conjecture as to why.
My question concerned the catalyst for ACB to get moving again. I don't see one in the near future and think that it might just move sideways for quite some time.
But what's the catalyst, Molson/Coors? The Apharia guys seem to think that the deal is done and waiting for dual quarterly reporting on 8-1.
I think the sector wide dip is mainly redistribution of monies into the fresh and exciting IPO's available on American exchanges. People are selling here and others to buy there. Willie Nelson is coming out with another IPO in the near future.
YTD Low
Stories like this are why people will stop buying from the black market, and turn to dispensaries.
https://globalnews.ca/news/4138448/fake-marijuana-rat-poison-deaths/
Pretty sure CMED dilution is included, but the LEAF is not yet.
because I follow the board and like to comment once in awhile... and the beer.
pretty sure I've made my position clear. I'm in the MJ sector. day trade all of them,
hope so. I'm in too.
I agree that it's better than a red day, but I'm pretty sure my stagnant ass options plus savings acct. made a higher percentage today
That just means that you can buy it at this price. No thanks.
Or you can sell it at the buy 6.44. No thanks.
After hours bid/ask mean nothing. They are the likely entered as orders "just in case" during hours that haven't cleared the house.
WOW.
There is absolutely nothing wrong with profit taking. We are all playing the same game, make money. Simple.
We all have different strategies, sometimes we get it right and sometimes we get it wrong, but by no means are necessarily obliged to playing long or short.
I played it exactly the same as Ax, but I am in Aphria, I played a bit more conservative than Ax... I got out a 9.80 and back in at 9.60 but managed to add quite a bit more value in the transaction.
The risk is in the stock doesn't drop after you get out! And you have to pay short term capital gains vs long term capital gains in taxation which can be higher.
One must decide if the short gains over the year are more than the difference in taxation... again, sometimes you get it wrong and sometimes you get it right.
Not sure I'd call profit taking weak minded. Everyone is playing the same game by the same rules. If the price goes down tomorrow, these "weak minded" folks made money, and can strengthen their position by buying back in with more money at a cheaper PPS. The difference is short term capital gains vs long term capital gains ... which a short term capital gain is different than "shorting" a stock. That is buying on margin.
I am currently out of ACBFF but watching it closely. My money is in Aphria, because even though I was continually strengthening my position in Aurora, I was doing so at a realized loss, which can't be realized unless you wait 31 days to buy back in.
For instance I buy the stock at $6 and sell at $10 within 1 year. This is a short term capital gain of $4xshares (US laws) I pay taxes on this this year. But then stock dips to $8 and I buy back in thinking it's going to spike again... instead it dips to $6... crap I say. Then it goes up to $7 so I sell... this is realized loss, but if I buy back to strengthen at $6 with my proceeds from selling at $7 these are replacement stocks and my realized loss CAN'T be deducted from your taxes. See Wash Rule. UNLESS your position is vacant for 31 days.
So I sold my Aurora and replaced with Canopy, and then APHRIA yesterday (figured it had more room for growth) thinking I could get back into Aurora before it took off and stop day trading it... both strengthening and profit taking... the Aphria should grow at a similar rate(today was slightly better), so my position in Aurora shouldn't change much even though I'm not in it.
Long story short.... profit taking isn't "weak minded" just depends on your goals and understanding of tax percentages at the end of the year... If I can make more buying and selling than what I would save in taxes by playing long, I have made more.
Which is really why I'm surprised that all these guys "Long and Strong" aren't selling a peak and buying a dip... such as tomorrow... we all know it's going to dip tomorrow. You are already long, even if you sell you held for more than 1 year... holding for 2 or 3 years doesn't reduce your taxation. Just 1 year.
My 2 cents.
IMO
31 days to clear my wash sales can't come soon enough.... watching anxiously
decided it was time to clear my wash sales, so I'm out (maybe 31 days temp) of ACBFF, and back into CGC. It has already paid off.
After hours movement shows up on my etrade. Looks like a 6.95usd close.
fairly large after hours bump.
Anyone elses Etrade a little jacked up with CBWTF... I know about the name change and assume that this is what it is, but mine is listed as like
"13675K103"
All of my comments about nyse listings were deleted... bit I agree with you. Twmjf got hammered at first... strange, feels like I've already said this 6 or 7 times...
Big money doesn't want in until its the probability of profit is greater, this won't likely be until some newer earnings reports are out. Huge money doesn't care about $7 vs $9 pps, it's all a drop in the hat for them.
Moderate investors, mostly private, also want a surer thing, but $7 vs $9 IS a bigger deal to them, so as soon as the vote passes, these moderate level private investors will begin buying.
IMO
Pretty sure the vote is what drove this up ~$1.50 US over the last 2 days. Now it is so close that people are just waiting.
Still likely private investors, banks and institutional money will likely stay away until legalization is official. Remember, private investing had this thing up into the $12 US range earlier, no reason that we can't run it up there again, and then put institutional money on top of that.
Cannabis Wheaton hasn't moved. Seems to be late as well
Broken through at the end. Hopefully this will be a new support line.
Quite the 6.3 US resistance
Aggressively day trade to get your break even lower. Or jump ship and lick your wounds... You are still alive.
yep. I think my etrade now separated CGC and TWMJF, I realized it after I submitted my post. Thanks for the catch.
perhaps I agree with this statement, but you cant compare a 35.1M O/S to a 556M O/S price point.
If ACB had 35.1 M O/S it would be worth $100 P/S US
Canopy has 526 million less outstanding shares.
just trying to make $$
pretty tough to day trade when your brokerage isn't real time...
Pretty sure that's what it opened at. T.D Ameritrade? might be behind.... sorry?
On TWMJF? I saw that there was some after hours action, but not enough for even on the day... I suppose it's your diversified portfolio.
What do you think about ACB on the NYSE?