Yesterday, CANN was the biggest gainer on the US Marijuana Index, and the 8th most active. Most of the sector was up, but not nearly what we were. Pre market is looking like There'll be some selling initially, which is totally fine after the climb we had the last few days. If we trade sideways here for a bit, I'd be perfectly ok with that. After Sessions crashed the sector, I expected traders to re enter with caution, CANN was much more aggressive than that. Flipping and profit taking anywhere in here should be expected and encouraged

A couple of my other holdings are showing larger gaps than yesterday. So the sector overall is feeling good.

I'm very excited about this. Very solid trading up here, we crossed right over $5 and had a ton of volume to back it up the whole day. I would have been happy with a close above $5 at all.... I didn't expect that climb to the .70 mark.

Gap open tomorrow, and we'll at least test $6

Nobody sold at all on the way up or down. No one trades here, we all just buy things and hold them indefinitely. There are no posts in this section describing trading action, selling, or anything like that. Only buying and only holding.

I'm convinced you're the only one on the entire site who sells any shares ever, so thank goodness you chose CANN to latch on to.

I didn't expect this today, but I'll take it. This is an aggressive but stable climb, IMO.

22% and it's just now lunch time

This churning of shares is exactly what I hoped for. We're looking at action virtually identical to the beginning of the run up in January. Just a couple days later we so casually walked up to $11, I wonder where we would have gone after the looming consolidation period, had the run not been interrupted by Sessions.

This time, there's nothing ol' Jeffy Jeff can do to stop us.

If the hype train continues, yes we will. Probably in a few days, like last time we saw trading action like this.

AND we have crossed the $5 barrier!

Ideally, we'd like to see a LOT of flipping and trading down here. Let everyone get good and comfortable.

Over a half million shares in 15 minutes.

Nearly closed that gap. I'm actually glad we had a lot of trading here and didn't shoot up immediately.

This is gonna be us pretty soon.

Mornin gents. It's looking like we'll be back in the high life again soon.

Indeed he is. He is human garbage, IMO.

The advantage we have is, it would be very difficult to keep something at bay that had already passed the Senate. Say Cory Garner crafts an MJ protections bill, he'll have no problem getting support for it. Pete Sessions' powers only go so far, and they are far from absolute. Even he can't stop the legalization train once enough Republicans are on board.

If we're looking at it from a worst case scenario and some odd grouping of rules, authority, and non-commitment from the party, and are for forced to wait until the mid terms, our prospects get even better. Pete Sessions sits in an R+4 or 5 district, and much much stronger Republican districts have recently been lost to fresh face Democrats. I'm no fan of either party, but for our purposes, a few key Republicans being replaced some far more MJ friendly Democrats would make us all very rich indeed.

January, one of my stocks shot up to prices we hadn't seen since 2014. Over 2x the prices we saw in the 2016 rush. The speculative fever that was gripping the sector had only just begun (4 days in), and it was based ONLY on CA legal sales beginning, and "protected" by the Cole Memo everyone knew could be rescinded at any point.

Now, we have reassurance from the white house directly, legislation on the way, more states, including NY talking about legalizing, an upcoming FDA decision, the mid terms.... it's a big year.

We also have the advantage of the crypto market being down and the hype not returning. If we get even 10% of the speculative fury that took bitcoin to 19,000, we'll all be very very rich.

If you decide to sell when we see January prices again, I hope you enjoy your new cash supply. :D If you've made money, you made the right choice, in my view. My strategy is to have a trailing stop loss with new highs. I sell some here and there at various points, then if we get above the prices I was originally hoping for, I just let my stop loss make the decision for me.

I know this was for Sleek, but I'd like to address one question you had:

"Will this latest news about Trump really get us going?"

I'd like to point out that this Cory Gardner/Trump announcement is the ONLY news that set us off on Friday.

When Sessions crashed the sector in January, we all expected something in the mean time to reassure investors that they could put money back into the sector and not be worried about a crackdown.

-The US Attorneys of the various MJ legal states telling us there will be no crack down wasn't enough.

-Congress wide bi-partisan condemnation of Sessions rescinding the Cole Memo wasn't enough.

-Congress passing a budget with MMJ protections built in wasn't enough.

-Months of ZERO crack downs wasn't enough.

-Finally, Jeff Sessions himself saying that the DOJ won't focus on MJ and doesn't have the resources to crack down on legal MJ states anyway wasn't enough.

On Friday, the instant the Cory Gardner announcement was made, we saw huge jumps across the sector. My portfolio had only one green stock with the rest flat or slightly red on low volume until the split second that announcement was made, then the day closed with everything green between 15% and 40%. That's huge. Sure we had seen some activity based on the Boehner news, but it was somewhat mild and didn't quite grip the whole sector. Finally, after over a year of impotence and zero direction, Trump states he supports the states and will support legislation limiting or ending federal involvement. This basically gives Cory Gardner the perfect excuse to craft legislation protecting ALL MJ laws, not just MMJ, and he's guaranteed to get a ton of support for it.

As it turns out, THAT was the reassurance investors wanted, and they showed so with their dollars. This coming week will show us just how confident everyone feels in MJ trading once again. In my opinion, December and January will be completely dwarfed.

Recently CANN has done a few PPs to fund operations. Diluted the pool a bit, but the float and share structure are still such that we're left in a good position for very high prices, like the $11+ we saw in January or greater.

The sector more or less runs together and has little to do with each company's fundamentals. One stock in 2016 I held didn't even have a product, zero revenue, and had a market cap of almost $1 billion at one point. In these rushes, it's purely speculative.

If next week reveals that we're back in a speculative rush again, expect CANN and virtually every stock to be completely overvalued and overbought for a period of time.

If we see $6-$8, I think we wouldn't need any more direct news, as the speculative fever would take over. :D

$5 seems to be the magic number for us, in my experience. If we cross that on Monday, which I believe we will, it's likely we'll see a repeat of what we saw in January, with a ton of trading in the low 5s, then a very aggressive climb to higher prices.

I think the main thing for us is the hype was there to really go nuts before Sessions collapsed the sector. We hadn't been above $5 in CANN since 2014, effectively. While it was grey listed there was a weird day where it shot up briefly to some higher prices, but they immediately came back down, so I don't really count that. Even in 2016, all we saw was numbers approaching $5, really. We so casually crossed that line and kept right on going in January, I think people at large are gunning for some explosive prices.

I'm not good at predicting prices, but I like Mwyo's numbers.

The 420 rally, if it occurs at all, isn't like we've seen this week. None of my stocks have ever done anything special on that day or leading up to it. In 2017, CANN did absolutely nothing on April 20th, and a mere 85,000 shares traded. The entire month of April's charts virtually look the same as it was in a shallow but steady decline during that period. There were pockets of rallies in the later summer and fall months, with December starting the speculation period for CA legalizing. In 2016, CANN did rally a bit, but only to about $1.95 before declining again until the run up to the election started.

To your other question, as to the growth through summer, we'll know next week if this is the bullish emergence we've been looking for or not. The Hemp farm bill being introduced, the Boehner news, then the Cory Gardner/Trump news certainly brought some money and interest into the sector. A few more days will tell us if the trend is here to stay or not.

Personally I feel confident that we're seeing the return of the bulls here. Mostly because we have the reassurance from the white house that the sector has been wanting this whole time. Congress passing a budget with MMJ protections built in wasn't enough. Months of no raids or crackdowns happening wasn't enough. US Attorneys of the many MJ states saying they won't crack down wasn't enough. Jeff Sessions himself saying that they don't have the resources to crack down wasn't enough. Then, the instant Cory Gardner announces he made a deal with Trump to protect MJ laws, we see a huge rally across the sector. Finally, THAT was enough. In my portfolio Friday morning, CANN was one of the few noteworthy green MJ stocks of mine. The rest were either red or only slightly green with low volume. By the end of the day, EVERYTHING was up between 15% and 40% on explosive volume. That's not a 420 rally, that's a hype event.

The advantage we had was, the sector hadn't cooled off completely. There was still money and interest, just not enough to drive the prices like we saw in January. While prices did decline and volume did drop off, we didn't see historic lows in either category. Before the 2016 rush, CANN had days where 30k shares was a big day. With all the hype this month has brought us, it'll be easy to return to a speculative rush, IMO.

I don't see any reason why not. It's still too early to tell if this is indeed the new rush, but if next week confirms we're back in a bull market, theres no real reason why we wouldn't retrace those numbers.

This is the start of our wildest dreams, boys.

The wife and I are going to have a party weekend. Good gracious, this sector take off could not have come at a better time for me.

That breakout tho!

We could close at the opening price and that would be just fine. Even a little red would be fine, given how bullish the last few days have been. Build a ton of support here, let's see what next week brings us.

The main thing is this massive volume came with us today.

The beacon fires have been lit by CANN. When news reaches Rohan, we'll have a full rush on our hands.

Pre market is looking aggressive. We might be in store for a bit of fun today

I've positioned myself pretty well in these two stocks. Numbers even approaching that would be world changing for me.

Definitely. I love when CANN wakes up, because it's not too long before my other pretties start dancing. :D

I thought so too. Last time, however, there were virtually no gap opens until we were above $5. Today we gapped open a bit... that may be a stronger bullish signal. Whatever happens tomorrow, I feel like we'll have a better handle on this thing next week.

As aggressive as the last couple days have been, there's not much of an indication that we'll drop down tomorrow. We did see some big selling today the first time we tested 3.60, and we closed above that resistance point, after a ton of trading in the 3.30s and 40s.

I'm confident tomorrow's trading action is similar to today's. What price we see is anyone's guess. Testing $4 only requires a rise of ~7%... a not very exciting day would bring us there

That finish!!!! Good lord boys... we can't ask for much more in a single day. Ridiculous trading these two days.

I'm not doing much at these price levels. On the way down over the last couple months, I bought a bunch in the 3s and 2s. Depending on how we continue from here, I'll resume trading closer to 5.

I see no reason why the hemp bill should fail to pass. Politically youd have to be a fool to oppose it

Agreed. Hopefully if this continues we can test $5 next week. Once we pass that line, CANN literally explodes

Boehner is a big part of it. Mitch McConnell also submitted the hemp bill today

Just under 2 hours in and nearly a million shares. Good lord.

I agree. As is tradition with CANN, we shot straight up, came down a bit, now will continue the climb

I enjoyed your post last night. I didn't think we'd see this volume or 3.60 today, but I'm often happy to be wrong. :D

Dang. Very nice morning so far

Bring your green hat!

A couple of my stocks were up pretty big today on the John Boehner news. I had no idea that guy's opinion mattered so much. I'll take it though, the more prominent Republicans that flip sides, the better. We already knew a bunch of Democrats were on board.

In other news, Paul Ryan, one of the small handful of Republicans who have been obstructing MJ legislation announced he won't be seeking reelection. Pete Sessions needs to resign or be voted out in the mid terms and our prospects for decriminalization or full legalization will be very very bright. For reference, Conor Lamb in PA took an R+14 district. If these special elections are a sign of what's to come, we have a lot to look forward to. Pete Sessions is in an R+5 district. He could easily lose his job, and most deservedly so.

I am indeed getting a beer today, though for different reasons. :D

Doing some reading today, it seems as though this bump we saw today was mostly or entirely due to John Boehner's reversal. I had no idea his opinion meant so much.

I'll take it though. Just another thing to add to the list of things happening for MJ this year.