RE:Bought some shares (easy trade/swing only)I would lay odds that it is already done with institutions playing a signifcant role in the placement.
starsearcher40 wrote: When ACB announced the bought deal at $3.00, it essentially froze the stock at (or near) that price while the bought deal gets done. Bought deals are necessary evils for companies that are expanding all over the place, and it's too bad that ACB froze itself in the midst of a broader sector run.
Does that mean ACB is excluded from this run? No, it means it has to go through a delay (bought deal) before it can play catch-up. It will be interesting to see how long the bought deal actually takes. They increased it by $10Million, so there's obviously high demand. Will it take until November 2nd to complete? I highly doubt that it will.
But it's in here then that the opportunity lays. The stock may be frozen now, but as soon as the bought deal is complete, then the stock will rally. And then add in the "catch-up" rally to the sector rise of the past few days. Is this worth the wait? Well, this is where the second opportunity may be found. I don't think the "wait" is going to be that long. Even if to completion, it's only about 2 weeks from now. But if it happens earlier, which I think it will, then it's easy/fast money.
As of today, I'm in for some trading/swing shares only. Looking for a good time, not a long time. ;)