OT: Lets talk about stocks (Part 2)

Discussion in 'Montreal Canadiens' started by Lshap, Apr 16, 2021.

  1. Lshap Hardline Moderate

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    Continue...
     
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  2. QuebecPride Registered User

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    ''Right, so what I was saying is it’s still a grey zone what qualifies for “day trading” in a tfsa, we don’t really have set guidelines established by the CRA. But yes, most do trades in their tfsa and will go away Scott free.''

    I think I've only sold once in my TFSA and it was to move out of bonds in February, so I highly doubt the CRA goes after me for buying and holding. Even if you make a huge profit, if it's over a long period of time, it is the purpose of the Tax Free Savings Account. Of course, if you make 100k off of Gamestop in a month, maybe not.
     
  3. canucklover123 Registered User

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    No I wouldn’t see the CRA going after you either. The purpose of a TFSA is to hold long term investments. It’s an investment véhicule. To differentiate between investment and trading is the issue. A poster listed some factors and that’s all we have to go on.

    like I mentioned, if you’re intent is to invest, you are not crossing lines. But a GME 100 k gain off a buy/flip in say a month, it’s hArd to argue your intent is to hold GME as an investment.

    So atleast for me, what I do is, if I have pure speculation stocks I wanna win the lotto on and I have to flip for profit, I buy in a margin account. Again, not saying what others D0, because I work on many client portfolios where they trade in there tfsa and there ok. All depends on the mood of the CRA
     
  4. canucklover123 Registered User

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    Anyone have space stocks in their portfolio?
     
  5. LyricalLyricist Registered User

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    So does CRA audit you ASAP or once you file your taxes?

    Originally, I didn't know about the rule and may have been a little intense with trading lol
     
  6. canucklover123 Registered User

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    I mean, it’s all based on pure luck lol. Most my clients who’ve done it don’t get audited. It’s really just shitty luck lol.

    i guess the same as someone who might declare more costs that used on repairs. If you get lucky enough to be audited, all I can say is shit luck lol. I wouldn’t worry about it personally
     
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  7. montreal Go Habs Go

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    I have ASTC, they were space but change their whole company years back, long term play, could be something but hasn't been shit for years.
     
  8. JC Tremblay Registered User

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    Any of you think AMC will short squeeze? Been a lot of talk about it on Youtube. Suppose to happen next week
     
  9. llamateizer Registered User

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    Tbh, reading that stocks and/or crypto "will" crash up to 90% is scaring me a little bit.
     
  10. JC Tremblay Registered User

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    They took a big tumble overnight
     
  11. DAChampion Registered User

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    Major crash in bitcoin, it's down about 15% from its peak.

    I hope it recovers.
     
  12. Mrb1p PRICERSTOPDAPUCK

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    Im poor now
     
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  13. llamateizer Registered User

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    The good news is that I wasn't destroyed emotionally. I'm new to this. So this kind of fluctuations is a good test.

    I guess it will. It'll take a week or so.

    Same. Can't wait to Monday for Hut going down.
    Growth stocks might follow the trend
     
  14. Mrb1p PRICERSTOPDAPUCK

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    I just realized I had a limit on litecoin at 385 for 100% and it went through yesterday. Im actually not poor.

    Buying back in at 300, I think, I will wait a day.
     
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  15. QuebecPride Registered User

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    The thing went up like seven fold in a year, it's only normal you see downside volatility... If you can't handle a 15% drop, you should not be investing in Bitcoin or Cryptos or you should be thinking about lowering your allocation to Cryptos to a bearable amount.
     
    Last edited: Apr 18, 2021
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  16. DAChampion Registered User

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    Dude chill I didn't say that I was having a heart attack.

    Sometimes hyperbole is funny :)
     
  17. canucklover123 Registered User

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    Anyone in CLOV? I bought some Friday hoping for some short squeeze magic tomororw
     
  18. japhi Registered User

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    The squeeze came and went. Jan 27.
     
  19. Crusherkgb Registered User

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    What ever you do, if it blows up cuz of WSB. Make sure to profit take Wednesday or Thursday. Definitely been a pattern with WSB and pumps and dumps. They run from Monday to Wednesday then profit take and slow bleed starts until it goes back to the old price point.
     
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  20. JC Tremblay Registered User

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    Not the same squeeze. Not sure how it will go.
     
  21. japhi Registered User

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    The large short positions were exited end of January. Citadel for instance took a 50% hit in Jan and actually recovered pretty strong in Feb. The stock went from over 100% short interest to half that, to 1/5 that today.

    Still lots of short positions - of course, this is a 1B company with a 10B market cap. Reported short interest is around 20% so the folks calling for a second squeeze are relying on that data being manipulated. I'm not big into conspiracy theories.

    Happy to be wrong on this. What data set are you using to predict a squeeze?
     
  22. QuebecPride Registered User

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    I'm really sensible to people's reaction about volatility, because I believe a lot of new investors don't really know what they got themselves into. Good for you for not panicking, but the statement stands ;)
     
  23. JC Tremblay Registered User

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    Going by Trey Trades on youtube. He is pretty sure. Check his videos out
     
  24. japhi Registered User

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    I just googled Trey Trades and he is tweeting that RBC is in trouble. Lol.

    Edit: looks like his main gig is inside trading a company he is an executive with:

    Trey Byus Net Worth (2021) | wallmine CA
     
  25. JC Tremblay Registered User

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    Looks like i made mistake with bitcoin. Getting hammered again. Don't know if i dare to look in morning
     

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