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A type of underwriting where the investment firm acts as an agent. The firm agrees to use its best efforts to sell the new issue of securities, but does not guarantee the issuing company that the securities to be issued will be sold.

The total dollar value of volume traded on one side of the transaction for a specified period. It equals price multiplied by volume.

An order with a limit price better than the best price on the opposite side of the market. A better-priced buy order has a limit price higher than the best offering. A better-priced sell order has a limit price lower than the best bid. These are available only at the opening.

Common and preferred stocks, which represent a share in the ownership of a company.

This occurs when a stock trades sideways in various signature patterns (e.g., cup with handle, saucer base, flat base) while it is under accumulation prior to its next move up. We look for these stocks as they can lead to explosive moves out of the bases.

The dollar value of securities issued in accordance with a TSX or TSX Venture Exchange approved transaction. The value equals the number of securities multiplied by the offering price. The various forms of financial instruments may have an effect on determining the price or the number of securities.

A longer period of time when prices in the market are generally declining. Bear markets typically are much shorter-lived than bull markets, but are usually more severe given the time period involved. We try to play corrections and bear markets to the downside as they can generate tremendous returns in a short time period.

An option contract that grants the holder the right to buy or sell a specific number of shares of stock at a specified price during a specific period of time.

Sales charge paid when selling a mutual fund (a.k.a. deferred load). 

Investment vehicles that may engage in the development, acquisition, and/or production of oil and gas reserves. The trust receives royalty income from producing properties (essentially, net cash flow) and then sells interests in the trust (called trust units) to investors. Conventional oil and gas royalty trusts are actively managed portfolios holding assets of mature producing properties. Substantially all of the cash flow generated by the oil and gas assets, net of certain deductions, such as administrative expenses and management fees, is passed on to the unit holders as royalty income. Capital expenses may also be deducted, but are usually subject to restrictions on the amount. The distributions are highly dependent upon the cash flow generated by the trust. In general, the largest variable in determining the level of cash flow is the price of crude oil and natural gas. Royalty trusts provide an alternative (from owning the shares of individual companies) for investors to participate in the oil and gas sector.