[MR.G..S] You guys are going to have a strenghening currency over ours as commodities get stronger and stronger therefore your buying power goes up and have have a more detailed view, I have placed most of my cash in buillion to protect from the further slide of our pathetic dollar. The Bernake printing presses roll on! [Chemaes] You are right, a few years ago I saw diminished returns in the US because although I might make 3 or 4 points on a US equity trade, the declining dollar would chew up a point or so. So, I swithced to trading predominantly Canadian equities. Also, I too started buying a lot of bullion back in 2004 and have continued.
[MR.G..S]I have tried stockhouse as a feed before and found it lacking for my purposes(maybe it's new and improved, it's been a few years), can you tell me of a data feed that has this great view in Canada? [Chemaes]Actually, I mentioned stockwatch www.stockwatch.com, it shows market depth 5 lots above the ask and 5 lots below the bid. If you use one of the big canadian banks the depth view goes 20 either way.
[MR.G..S]Also is it hard for me to open a brockerage account there in Canada? [Chemaes] Well actually, once you have a brokerage account in the US I would imagine you should have access to trading the canadian market. For instance for me, if I want to buy a canadian equity I enter "T" before the symbol, representative of "Toronto". So T.SLW to buy canadian market or just SLW to buy the american market. I imagine it should be that simple for you too. Besides that, as a Canadian, I have opened US accounts and it only takes maybe a few business days. Typically its better to open US margin accounts and Canadian margin accounts to trade the different country equities
[MR.G..S]I would prefer your currency, it will continue to appreciate against the US. If you wouldn't mind, I would also like to know if I can short US penny stocks(that crud on the OTCBB and Pinksheets) from an Canadian account.[Chemaes] Absolutely. I'm surprise you trust those pinksheet crooks though..lol... if you are bullish commodities miners there is something called the venture exchange on the TSX equivalent to the OTCBB and pinks.
Chemaes I usually take the weekends off.Good trading.
No I want to short US pinksheets and OTCBB becuase it is absolute junk. Thanks for the reply.
Interesting day.. The DOW was down an immediate 200pts. this morning(the stupid "recovery" article on yahoo finance home page never changed) and then the DOW goes 50pts into the green and of course is red again. I wonder how many bagholders the institutional banks/hedge funds have created today, a bet alot. Stupid newbie herd traders believe what they read on AP newswires!
I think this is the last day of a violent shakeout in the PM stocks and outright contracts. I had a feeling that the big money wan't finihed backing up the truck on Gold and Silver and their related mining co.s and where most likley still quite short on many of the contracts and stocks. They know the time is running out not only to cover, but to get in and get in large. Earnings season starts tommorrow and it is going to be absolutely horrible. I do not think Alcoa will do bad, however, everything after them is going to post loss after loss after loss.
The institutions know, at that point, they will not be able to keep the market propped up or manipulate folks into taking the bait on the worthless consumer based stocks they own and the market tanks in earnest. since earnings are on thier way, the hedge funds are loading up on Gold and Silver mining co.s IMO and they are being quite ruthless about it. They could care less about the tactics they use as long as they accomplish their goals. Two things are certain, when they are done loading up and the market tanks, SLW, GG , GFI, PAAS, AU and the like will be above 52 week highs and will continue onward.
One thing that I have learned, after a sector runs up strong on the first lleg up, the MM and Hedge funds use ruthless tactics to grap all the shares they can from the weak hands. When they won most of the shares, they run the co.s up way higher than the first leg, we go up from here.