Aurora Cannabis Inc (ACB)

[DrFunktastic]

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