Urban legend holds that "420" began decades ago as the time of day some high school kids in the Bay Area would meet after school to light up.

The time of day soon became a day of the year. April 20th, which this year is on a Wednesday.

Or Weed—nesday.

Even though California voters shot down a proposal last fall to make recreational pot legal, some feel legalization is inevitable. More states are passing medical marijuana laws--one just took effect in Arizona—and penalties for pot possession are easing.

So now's the time to cash in with paraphernalia, and I don't mean bong sales.

Nike is launching a special Cheech & Chong's 420 shoe. But one company is trying to capitalize on something more specifically tied to the event.

Those whose minds can't quite function on Weednesday, lost in a haze, may need a watch to remind them of their favorite time to take a break.