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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: herenow_2 who wrote (6506)	1/2/2003 10:46:06 AM
From: jrhana	Read Replies (1) \| Respond to of 39344

Yo may get better execution by going directly to Canada. I have found you can get good execution with the Pinks on the larger companies. I guess CDU is of a borderline size. Everybody seems to recommend Penntrade. There are certainly others here better qualified to give you an answer. LOL

To: herenow_2 who wrote (6506)	1/2/2003 5:08:47 PM
From: mailcat8	Respond to of 39344

Buying these little Canadian stocks in the U.S. can be done, but it's a little more difficult. It's worth it too! I would first check and see if Penntrade.com online trading is available in your state. (It isn't available in my state--KY) If you can use Penntrade, go with them--consensus is that they are best, and I wish I could use them. I use both Fidelity and Schwab-- they are okay. With both Fido and Schwab I have to enter the U.S. symbol, e.g., for Cardero it is as you have them. Both symbols are for the same company--just one is for the U.S. and the other is for Canada. Another example--Corner Bay: Canadian is BAY.T and U.S. is CBYMF. If you have a Canadian company that you are interested in, and you only have the company name or Canadian symbol, you can get the U.S. symbol through Yahoo's "symbol search"--I just enter the name, Cardero, and symbol search gives me both CDU.V and CUEAF.PK--this also shows that these are for the same company. I drop the ".pk" to enter an order online, and it usually works okay. N.B.--I always use limit orders. Convert Canadian prices to U.S. dollars(get up-to-date exchange rates at the bottom of the page on Kitco) These stocks have a big spread and the U.S. brokerages either buy through pink sheet or OTC procedures, or maybe their own global trading arrangement. Execution is problematical, and limit orders are my best protection. Also, bids can be entered for fractions of a U.S. cent, i.e., $0.255. Even so, I usually wind up paying more than most people who post here--but if I am going to hold it for awhile, it can really be worth it, e.g., Minefinders, MFL.TO/MNEFF.OB bought at 0.65, now 4.36--U.S. prices. Commissions can be a problem too for orders of large numbers of shares of these (now) penny stocks. Fidelity's commissions seem okay--Schwab's seem pretty high. So I figure that these U.S. brokerages are okay for intermediate to long term holding periods. Good luck!