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Re: Norma post# 17

Monday, 11/04/2002 2:12:00 PM

Monday, November 04, 2002 2:12:00 PM

Post# of 31
Ever check out Pennaluna? ... http://www.penntrade.com i think ... quite a bit of discussion on it on various juniors threads, well-regarded as a way for US residents to play canuck shares .... not registered in all US states though, this is a problem for some ... those who are able and who have tried it among alternatives, tend to speak highly of it

Without limit orders you lose percentage on each side of the trade, unless maybe you could watch close for your chosen bid price to be the ask, or chosen ask to be the bid, but that would require constant attention and no small amount of luck ... i think the beauty to the juniors is that you don't have to watch them much, they are plays on fundamentals and seasonality, far too illiquid to trade most days no matter where they go, so caring about intermediate ticks is a waste of effort ... i try to buy almost entirely on the bid when it's slow, and sell on the ask when it's running with volume, using limit orders put in outside of market hours, often in the evening, partly for personal convenience, partly because intra-day additions to the depth attract more attention [my theory anyway, the latter] .... without limit orders though, man what an uphill battle

Borders just generally cause loss through friction, it's more expensive for us here to trade US than domestic ... for a lot i use TDW, it's the biggest house in the country and a good example, they charge the 'same' commission for both sides, only in the US they charge usd instead of loonies, so we're paying about 52% more right there .... almost the only thing for which i use my usd account with them lately, is in changing loonies to pesos, since they give quite a good exchange on cdn-usd, i just get a transfer out of the usd account, to whatever cambio gives the best on usd-peso [and they were not so bad themselves on usd-peso once this spring, next time i'm going to get a quote from them]

There are lots of co-listings down there, but because of this phenomenon they tend to be somewhat less undervalued than they otherwise would be, imho ..... that's just general impression .... one that's co-listed and recently changed down there from the bulletin board to the Amex, is mng.amex, we know it here as mae.to, Miramar .... good outfit, i don't hold any at the moment but am maybe on the verge of putting in a stinker bid .... using a limit order, of course -g- .... yes, if i were you i'd 1. look for a better broker, and 2. spend more energy looking for opportunity in the US, until the better broker comes along

National filed its 20F of course, you will have seen that upthread .... hard to say what CM's intentions are regarding a co-listing, i should ask .... it's a very good idea at some point for every successful canuck outfit, costs money though, and takes management time, so doing it prematurely could detract from building the fundamentals

Quite the ramp in the NazDow efforts eh ..... too steep to last, election- and fed-related, i betcha they end up lower on the week ... and maybe the yellow dog too, but that doesn't matter for now .... imho ... what matters is december to april, roughly from solstice to equinox, give or take a week or three

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  • 1M
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  • 5Y