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Nice consolidation all morning. Shows more people are holding shares. Good bull break finally leading into the afternoon.
Canopy is going places. I hope they announce the updated square footage in their earnings.
Yesterday we broke the daily trend. Now lets break the weekly! 31.77 then 32.75 to do that.
14day at 46.47. 90day at 56.01
I hate it when MMs make it gap up too far. Need that gradual incline. Bid/ask at 31.66...
Its a nice daytime bake. Its strong so I never have too much. Just enough to buzz around.
Well, just took the last of my sativa Zaius oil and off the the mountains. Perfect combination. GLTA
If we can break that 27.65 high set yesterday we will have officially reversed the daily trend back to bullish. Hopefully, in saying that, we stay on our own course and dont have world markets drag us back down.
S&P500 also broke morning high on the daily just now. The trend is our friend as DBrown would say.
Green!
Wow buying at open would've been amazing!
Looks like people are buying the dip on the dow and S&P
Bids at 21 now... 13% drop off open
Not good. Bids and ask dropping. Down to 21.56
Nowwhat, what is your opinion on the Asia market currently. They're almost a day ahead of North America so what happened Friday for us wasn't as drastic for them. Right now, most asian indexes gapped down but looks like there was a lot of buying first thing. Based on your charts, daily, weekly, monthly, do you think they're factoring in what happened to us, or they're on they're own fall as well?
Ive been looking into the other crashes and times the DOW went down more than 600 points in a day. Although it sounds like a lot, I feel like the news should be stating percentages rather than points. All the other times it went down by that many points it was over 5% in a day. Because the DOW is so high this time, that many points only took 2.5%. Hell, the whole week was only just over 4% DOWn. (Sorry I had to) Even if we go down another 3% its still and upward trend for the index.
Just watched what Jim Cramer had to say about it, and from what I gather, he's stating next week, even Monday, will be a glorious opportunity to pick up shares. Although he did say SMG may tumble a bit farther due to its speculative investments in hydroponics for pot. The market needed to cool off. Consolidation is what I thinks happening.
Nowwhat, if the market is indeed "crashing" we'd most likely see it in the China markets on Sunday, yes? When that time comes, chart us up some shiet! Thanks buddy.
Yeah, I moved here from Vancouver almost 4 years ago now. I don't ever want to leave!
Definitely. Worth the day trip for sure. As long as I have Tweed I'll go to any mountain for a sesh.
Lets celebrate. Hop on a plane, come to Big White in Kelowna, and we can smoke some Tweed.
Bear volume isn't a good sign usually. If this stock pushes higher than the open by end of day then we may see the trend change.
Stink bids got filled. Didn't expect this much push down though. Coulda loaded up lower! Oh well. Anyone think the whole market coming down has something to do with the bitcoin bubble bursting? Lots of money has been lost on crypto the past few weeks...
I actually enjoy nowwhats posts. We only have a couple chart guys in here so its nice to see input from technical analysis. Regardless, if the charts point to a downward trend, people attached to this stock aren't gonna like his posts. But take it with a grain of salt.
I just put in 4 stink bids. Fingers crossed haha!
Canadian ticker
If Canopy can break through 29 again then downtrend should be broken for the daily.
This is great news. Bruce is the man. The government choosing Canopy just shows you how well this company will be doing shortly.
If Bruce can get MOUs for the other Provinces Canopys positioned in, especially BC, Ontario, Quebec, then we'd be able to project considerable amounts of the revenues for the first year of legalization. From there people can turn speculation into more concrete projections and give us a big leg up.
Rade Kovacevic mentioned 3mil square ft having just finished construction. How many kgs can that alone supply? I wouldnt mind seeing that PR mentioned soon.
I think Canopy needs to lower their costs per gram for medical patients. I usually buy off CGC but I wait until good low cost strains become available. The sales they get when bakerstreet is in the shop is extraordinary, for example.
I've noticed all the high cost 12$ per gram DNA and Snoop strains have stayed on the website for months where I could see them selling out easily at 9.50/10$ per gram. Same goes for lowering the 9$ tweed strains to 8$. I imagine a lot of other patients are doing the same in waiting for the cheapies. The orders, even though still going up, seem to have a slower pace these days.
They are. I would imagine there's not too many orders on weekends until Sunday night since they're not processed until Monday morning anyway.
Order #692193 just now my friends
Completely understandable. But the market has priced in the probability of that deal already. The market isn't stupid. As a result of that I still see a correction imminent. Maintaining PPS with all companies together will put them at almost 10bil market cap. To say they're worth more than Canopy doesn't make sense to me. Even if I'd love that to happen as it makes me more money I just dont see it. Unless Canopy is in the 50$ range by then. Once again, I hope I'm wrong. I'm not trying to bash just giving an honest opinion. Good luck to everyone here.
Not bashing. As stated; I have more shares in ACB than CGC at .83 a share for 2 years now. But to say that no market correction will happen with an issuance of more than 30% more shares is naive. I hope I'm wrong.
Yes. I believe the renegotiated deal will cause a dilution of 35-40% in outstanding shares. For Aurora to hold their PPS that would mean they're market cap would be a lot higher than Canopys.
When comparing the 2 companies I still believe Aurora is number 2 even with CanniMed and Newstrike. Aurora has a lot going on but Canopy is in its own ballpark. I've held both companies for 2 years and ACB I even have more shares but that is my honest opinion.
I'm 24. In ACB at .83 about 2 years ago. Been on this board since. Never commented, as back then there was maybe a post or 2 everday, so I barely read this board until a few weeks ago. My things have changed!
Weedstocks have changed my life. I never thought I'd be where I am today 5 years ago. Best of luck to all the longs and traders in here.
And engage. Just realized you posted that too.
We can't expect this stock to swing up 50% in a week and not have a drastic pullback as we did. That's naive.
I'm in agreement with JohnCM in saying we're in consolidation. Hopefully settle in the low mid thirties and take a breather. It seems were doing just that atm.
I'm in Thailand right now so I've only been watching the first hour or so of trading. Its been a blessing in disguise lol. GLTA
I've been here for 2 years. In at 3.04CAD, haven't sold a share. Yes, I know the whole cast as you say, stoner. This is actually my first post in the whole time I've been here.
I'm forever thankful for this board. So many focused individuals with quick DD and posts.
I grew up in a very broken family with not too much money. When I was 18 I wanted to figure out the fastest way to make cash to provide to my family what I couldn't have. Growing up in Vancouver its a hard thing to do as cost of living has increased substantially.
I became an electrician immediately out of high school and went up North for 3 and a half years to slave away in the oil patch, gas plants, hydro dams etc and make as much as I could as quickly as I could. Then 2 years ago maxed out my tfsa and threw it into weed stocks.
At 24 years old, I now have enough to buy a whole house outright in Kelowna where I live now. I can provide a good life for my future family and I could never be more happy to have this board along the way.
Thank you to you all! Yoda, Engage, Stoner, Aces, MMPRuser, John, Dbrown, Eagle, Darius, hell even Bob (most haters leave but your persistance makes me laugh) and whoever else I missed. Cheers to a great run, and the best part is, were only in the 3rd inning!