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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime
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To: the Chief who wrote (62)11/21/1998 7:37:00 PM
From: keith massey   of 62348
 
Chief

You made a really good point about stocks big and small being a gambling. I would like to point something out about my last posts on margins. If you are highly margined and the stock drops to zero you not only lose all your money but have to pay back the money you borrowed.

I only margin stocks that I believe have a 0.001% chance of being halted and going to zero or gapping down significantly. These include stocks such as the big bank stocks, and stocks that have there hands in many places and have a very strong financial sheet like BBD.B and ABX. I will not and do not margin stocks that I believe are "risky". However even the big banks can catch you off guard.. Example - on August 6 CM announced in overnight news that it was expecting low than expected earnings and gapped down around $7 on open and has not recovered since. Although the August 5 chart on CM did not indicate a overnight hold I just want to point out the possible dangers involved.

Something like Brex is a special case. However if you really think about it they only had their hands in one place. Although it was impossible to see the hoax coming it would have been risky to be highly margined on that stock where one deal makes or breaks the stock.

Best Regards
KEITH
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