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That reply leads me to believe you are seriously mis informed...is this what they call "contempt prior to investigation"??
2.5 trillion dollars of "funny money" is kinda funny I guess, beings the market cap of silver and gold isn't far off.
You know what is actually hilarious...A 100$ investment in Berkshire Hathaway 10 yrs ago would be worth 328$ today. A 100$ in Bitcoin 10 yrs ago would be worth 9.2 million$ ....that is funny.
LCK
Is the SAFE solution right under the industries nose?
https://www.coindesk.com/layer2/2021/12/15/why-the-marijuana-industry-needs-crypto/
LCK
It’s “ETF” Pete
LCK
Unfortunately the chart and facts don’t care about our opinions. The stock is over -50% from the ATH. Okay so the run up was all hype from a base in the 20$ in Nov I hear you saying?
Then let’s look at the data on that, today is Dec 7th. Not far from the run up of last Nov as you stated. The 1 yr return is -15%. You can’t argue with that.
Trulieve will be a banger, their numbers don’t lie. IMO it’s the exchange that it’s traded on and lack of volume.
LCK
It takes a “real one” to admit that. I appreciate your humility…
Yes, its terrible. If you invested in Trulieve this year your down 25% YTD. Factor in the inflation and your absolutely getting crushed.
The way I see it is most folks on these boards cant see the facts. “Dont take it up with me, take it up with the data” I heard someone say…the chart fell apart, the reform never happened and the money moved on. I personally have been cautious since this is on the OTC.
That being said, I think the company is awesome. Hands down at the top of their game. But it seems counterintuitive to remain with a large position with everything I stated above. Like you said, 47 % or actually more….I think in the mid 50% off the highs..
We can hope for the best, plan for the worst….
All the best Cabos
LCK
I agree, that's the way to take it in stride!!! More golf :)
LCK
I disagree on your price predictions. This is the OTC and imo folks ran for the hills. I know I did...
Those analysts are a joke, those numbers won't be seen unless cannabis companies can uplist to NASDAQ/NYSE like you mentioned. A lot of those guys were calling for JUSHF to be 30-40$ at the end of 2021...its 4$ now. The chart tells a story for those willing to read it.
This is my opinion and not financial advice, I think with no "news" in the coming weeks on SAFE etc...that we go into the teens again with tax loss harvesting and folks clearing their losers to start their balance sheet off fresh come the new year. The teens are only a 20% drop from where we are now and the chart is a train wreck.
We will see
LCK
When 40?
You told us it was going there like 2-3 months ago…boo hoo
LCK
Trulieve stock will have its day, it’s just not going to be today…trading below the cute little blue line (50 dma) again
I’m happy I took the risk off approach and booked profits.
Fun fact….you could buy a crypto coin, there is a lot of them, and pool it into a DeFi wallet and earn an APY that is higher than the return on Trulieves stock over the past year
I’m not a financial advisor or is anything I say financial advice, just an observation …..
LCK
Who is ‘they”? It’s the OTC did you expect different I guess?
LCK
Someone dumped. Oversold to overbought in a week on the OTC?
LCK
Looking good with the break and hold over 30$, has a nice launch pad and still room to run on the RSI in my opinion...looking to reclaim that 200dma at 36ish, that would be epic...
Overall the sector looks to be turning around...Im a little suspect on the amount of "trades" vs "investments" being put on, especially the JUSHF move the past week. But its all good, still have a small amount of TCNNF/GDNSF/JUSHF/CRLBF
Curious to hear these numbers today...all the best
LCK
Yes
LCK
Excellent volume, thought I would offer congrats…..just saw the end of the day dump on large volume, ughh
Traders doing their thing I guess!
LCK
Interesting to say the least, it’s heating up!
LCK
Nice move today!
LCK
100% agree with you, a balanced perspective...
LCK
These are the things I have been talking about the past months. The chart is atrocious and no volume, you get a few headlines like this combined with the OTC and whammy!!
Although, not to pat myself on the back, but I did say if the neckline broke on the H&S pattern that low 20s were coming...Im happy with my decision to clear 75% of my cannabis positions, I think there will be some excellent opportunities to take on long positions further down the line...
All the best Jim, keep on truckin'
LCK
Interesting sector related article....JPMorgan Chase to restrict purchases of cannabis-related stocks, report says
https://mjbizdaily.com/jpmorgan-chase-to-restrict-purchases-of-cannabis-related-stocks-securities/
Key paragraph for me...
The New York-based bank’s restriction applies to any company that has a “direct nexus to marijuana-related activities,” even those that aren’t traded on major exchanges such as the Nasdaq, New York Stock Exchange or Toronto Stock Exchange.
After Nov. 8, JPMorgan clients with positions in marijuana companies will be allowed to liquidate their shares, according to the bank’s letter.
LCK
Anyone who thinks they know whats going on in the markets are deluding themselves. Its a different animal at this point. As i said before, antiquated approaches to the market are changing. You wont have to worry about hogs or pigs, without an open mind we can end up being our own worst enemy.
LCK
My apologies, i charted it wrong. The neckline was at 27$ not 26$ and it broke yesterday. Lets see if the target of the break gets met, looks to be low 20s.
All charts can fail but many can be useful, lets see how it plays out. I sold the last of my long position yesterday, still hold a very small handful of Harvest conversion shares in an IRA that i will likely hold forever. Just for transparency ….
All the best
LCK
Let’s have a little fun to test the charts Jim! The neck line of the head and shoulders is roughly 26$ even, .44 cents away from it. TCNNF has dropped 10% in the past 2 sessions….if the neckline breaks I think we see 21$ as that seems like the target. Any thoughts….
By the way, enjoyed your post and discussion. Finally a healthy banter on the macro workings of the market.
Cheers…
LCK
"Fortunes have been made by those who buy low...and sell way too early"
LCK
Love it Jim, great TA perspective. I will disagree with you on a few points, actually nothing on Trulieve who is obviously firing on all cylinders. The company is hands down dominating. The overall market is my concern, I believe the S&P has reached a full Fib extension, inflation concerns and no one knows when we come off the OTC with some kinda bill passing.
Im not sure if we enter a bearish trend in the overall market if money will flow into speculative OTC stocks with measly volume. If we were on a different board, tutes were locked and loaded i would have a different perception. Still neutral, cautious, eyes peeled and hedged….
I hope it goes to the moon, we all win. As for now, my space suit is still hanging in the closet.
LCK
I totally agree, the box would be confirmation of trend reversal. But do you see the glaring head and shoulders!!! Especially with the down day today it’s forming, if the neck line breaks we will see the “teens” again ?
Just to clarify as most that read this board can’t articulate the difference between questions and statements…I’m not saying it’s going to the teens, I’m asking Jim, according to TA would we “go to the teens” as a technical break of the neckline…..if so, I will back up the truck
LCK
Charts are good for OTC boards
LCK
Head and shoulders isnt just a good shampoo, its showing up on the TCNNf daily chart. Cross your fingers it bust thru the 30s and stays there…..if not, ahhh who cares….charts dont work anyways
LCK
So they filed for the ETF, good news….question is, it’s at least 75 days before approval. Can the discount to NAV narrow in that time? If the bull cycle draws to a close within that time frame, we get a blow off top and a substantial correction then when GBTC is par with NAV it could be 50-80% cheaper (spot price)
Any thoughts?
I personally did not start adding GBTC until a few months ago and it’s all at 15+ % discount so it’s a no brainer, but how about the folks holding since the premium ?
LCK
Haha...whatcha think dude? We broke out of the downward channel but now support of the 50 is gone do you think we go back into the channel? Looks like the up trend lines have faltered also...
Curious your perspective..
LCK
I never said that, I might have said there was support/resistance there but I never post on a board where a stock is going, no one knows that...thats why I like having a little fun with the cheerleaders, don't get your pom poms in a tizzy now
LCK
Wow, mid 20’s again. Who woulda thought?
I like to use YCharts for charting TCNNF and other stocks
I like to use this message board to chart stupidity
LCK
Best wishes
LCK
It’s broke thru many times the past week, key is it finally closed above it after 7 rejections….
Back test as support and we have a new base IMO
Nice strong move
LCK
Closed above the blue line, congrats
Boom Shaka laka
LCK
Once again, can’t close above the 50dma…
Who says charts don’t work on this sector?…lol….this is the OTC
Still looking for a close above and then a couple back tests, only then will I put my bull horns on again
LCK
Im ok with it banging its head on the 50dma and the RSI flipping positive/over 50.
I think we broke out of the descending channel/wedge also Jim? I just drew a couple lines on a chart and saw that...lol
Lets see if we get some momentum, break the 50...back test a few times and I will feel better about TCNNF
LCK
It was broke, just couldn't close above...
My preference is to see a close above, then start back testing as support
LCK
The wick tells the story, the body of this candle tells the facts…..
The 50dma was seriously rejected
Try again another day
LCK