RE:RE:I love the newbies posting...DaleDenton wrote: These boards are a joke 99% of the time, ledrog what do you think this week is going to bring? Thanks DD
Quite honestly I think its anyone's guess.....too many things can happen. A BNN mention or an article in the Globe (or anything similar) could bring buyers storming in, but conversely a analyst type with a big following expressing the opinion that EMC is overvalued could have the opposite effect, sending shareholders fleeing.
I figured the opening was going to be in the $1.50 to $2 range....but I also figured the potential by this spring was for $7+, when Ottawa announces how its going forward with the legalization for recreational use. In between now and then there's an OTC listing of course, and the potential for more news and annoucments and media coverage.
I was looking for a decent sized block of shares when I thought the price was going to be $2 or so at most.....when I saw it over $3, I decided to just dip my toe, only investing about 1/3rd of what I had initially intended.
I made the allusion to Real Estate in an earlier post, how back 6 or 7 years ago a lot of Toronto/Vancouver house shoppers thought prices were insane back then....so they decided to wait, deriding those who jumped in paying $300 or $400K for a house. ''Those morons don't understand the market'' these mensa types said, and then they watched prices triple and quadruple on them. I don't think those who decided to stay outta the market were stupid, its just that their analysis ended up being wrong....
That's why I only took out a small position, I can see it going both ways....I wanted to be in if my forecasted $7+ comes to fruition by April.....but the level of interest has me thinking ''bubble'' as well....if it goes to $7 I will have made some paper gains, if it drops back I can average down.
Given the CEO's Purdue experience I really like their chances for the long term.