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Ok, what’s the thoughts on this ticket? Chart is not so clear as the other….lots of wicks off that .90, a break and hold above that would be ideal Im assuming. On the fence is I trade this one because of that resistance or hold, see how the day unfolds…
Edit~
Looking at your closer view of the volume profile, it broke and closed above the trend line. Seems like ALOT of runway above this .95ish….kinda clear to 1.40ish
LCK
Thanks for the props, you understand I can see by your use of the word “tool”. That’s what charting is, not a crystal ball….
Now looking at this “tool”, imo your purchase at 5 was a good choice. Props to you for working through the trauma of a 95% draw down and still willing to get back in. Be smart, stay sharp
All the best, let’s hope this is the start of another epic run
Surf is on fire today in S. Florida …..time to get it
LCK
”I bought TCNNF cheapies at 40$ and all I got was this lousy Tshirt”
I will make this for you with my profits
LCK
Im thinking this would be a buy the news situation, although I would actively trade it.
All my opinion and heres my thesis…these tickets (lol) are still down 80-90% off the ATH and still have alot of shorts still in the water. Big, confirmed news could see a couple day parabolic move before settling down to find support. Also depends where we take off from, if everything stair steps up another 40/50 % and then we get news, i might not be as aggressive. Loving the weekly higher lows, chart looks epic on TCNNF and the ETF…still not sure on JUSHF, helluva move today but still has that .90ish wall to battle with
All good, having fun…nice to have a break from the BTC universe as it consolidates
LCK
Me too, I actually own MSOX but only watch the chart of the MSOS, that being said….just had the full bull break of that 9.88. Here we go…
I’m still treading lightly, adding a tad here and there. Any headline confirmation on re schedule and I will lean in more aggressive.
Always appreciate your insight…..
(What the heck, I’m going to click that little Bullish button above the post…lol)
LCK
Me too sir!!!
Looking for that close above 10$ and we got a break. Watching 9.88 on MSOS to break also, TCNNF might do the work….
LCK
Atleast we are both entertained. Thats the problem with your thesis and why you don't understand charting, its not a prediction where its going but can give clues. Buffet is old and so is his thesis, we are in a new paradigm of finance imo so I will play accordingly
LCK
Ha, just saw this…We don't care what you think thats why we use charts. Stick to the pom poms and carrying your “40$ cheapie bags” ‘cause we all know they are heavy.
LCK
Great advice on switching to weekly charts. I’m feeling a bit more optimistic also. Most likely won’t trade it as much but use the pull backs to double up. So far so good…
LCK
Bear div between price/volume? Getting overheated, best case is to back tap that 7.50 area for a higher low to continue the march….any thoughts?
LCK
Show me the chart, I will tell you the news….
https://www.marijuanamoment.net/oregon-company-withdraws-interstate-marijuana-trade-lawsuit-saying-big-things-are-coming-very-soon/
LCK
Strictly chart guys (hence the name) and not investors. That said, these guys are top notch, love Dan’s channel and TA
LCK
No prob brother, enjoy the ride. Great surf season so far….
LCK
You can’t make this crap up, lol. I think we might be in for a ride….nibbling back at MSOX. All the pumptards are starting to post “100$ a share by end of the year” again. Good sign….
Heat map looks good here, if TCNNF can chew through the 9s there is a lot of open space. Thanks again for that volume profile, charts are amazing tools. I would be broke without them lol
LCK
Check this out, reschedule by end of summer?
https://themarijuanaherald.com/2024/01/dea-set-to-reschedule-marijuana-by-the-end-of-summer/
LCK
Just pulled up the 1 year chart and threw some trend lines up. Only thing I’m not digging here is the lower highs fro the local top/breakout on HHS news in Oct. I’m seeing a lot of top side wicks on the daily candles too. It could be it’s just working through that liquidity in this area, referencing the volume profile chart you posted. Not fully out of the woods yet?
Funny…on your last post from the other board you wrote “ticket” instead of “ticker” …im sure it was a typo but I love it! Im now calling all these… “tickets”
LCK
All depends on time frame, the chart is saying overbought on the daily but not the weekly. RSI can run hot on these tickers once they get momo.
I can’t suggest what to do (I’m not a financial advisor….I’m a surfer, dude) I just look at the left side of the chart to put the puzzle pieces together for the right side/blank side of the chart. From here it looks as if the downtrend has broken and we have started a new uptrend. Higher highs, higher lows is good news. Good headlines and this could get juicy
LCK
Time to break out the pom poms girls. Send it!! LFG
LCK
Grabbed a handful, liking the trading at 52 high with FL ballot news. Tight stops, see how she closes. If it works through some of that heavy liquidity in this area it could rip?
LCK
Hey, just seeing this now…in Arizona at the moment. That link is interesting, not surprising at all!
LCK
Im back to my “market buy the headline” strategy lol. Im not parking capital here hoping something gets done but like you said…a blind side headline of re-scheduling could be a nice swing set up.
LCK
Any thoughts on the volume? All cannabis plays were starting to ramp up then the volume fell off a cliff the past few days…
Im happily in dry powder eyeing up some other possible set ups
LCK
Yea man! I closed out JUSHF and MSOX yesterday and waiting to see how this settles. That link I posted on the other board…that we both commented on….well, it had thinking this isnt happening anytime soon. Lots of hurdles so…my trades/positions are on a tight leash.
BTC proxies getting crushed, opportunities are going to be presenting themselves…nice to have freed up capital ;)
LCK
Still on the sidelines, not sure what to do lol?
LCK
Closed out my JUSHF position yesterday, nice gains for a 2 week hold. Looking at the gap fill, see how it trades from there
LCK
Thanks for the break down, I got the same vibe when I read it. Once it started to mention the legal ramifications of S3 and also the FDA needing involvement I thought that this is a looong road ahead. The caveat being (correct me if Im wrong) that if Congress had a say it would bypass alot of these bumps along the way. Either way I believe there will be alot of other entry points for these tickers in the coming months, like Locksmith mentioned…plenty other places to deploy capital then have it sit here. If some headline comes thats game changing, different story but for now….
LCK
Ha! This might be over before the butter melts…never know. Liking the close across the charts, probably see some follow through tomorrow. But the pushback on news….eh, i dont see this happening soon. Probably right around time people need votes
https://crsreports.congress.gov/product/pdf/LSB/LSB11105
Best wishes my friend, happy trading
LCK
Nice “gap and go” this morning. Funny its right off where it was banging its head, that gap from 6.10-40ish needs to fill and it would back test your area of confluence on the resistance area. That would be a sign of strength for me…we live to play another day
LCK
Thanks so much! Going to take a peek now…Canadian markets trading and all these tickers are seeing nice gains. IMO believe these resistance lines they are currently bumping their heads on will be breached tomorrow…
LCK
If you have a chance I would love to see the chart w/volume profile for JUSHF….no pressure, still haven't time to dial it in on my end
Hoping for good week!
LCK
Never thought about that, I bet GE Jim would be good for that research….
LCK
Is ETHE the only proxy with price exposure to Ethereum?
With BTC you had the miners/Microstrategy and of course GBTC…
LCK
Locksmith bringing the receipts!!! I love it…..
It looks pretty empty in the 9s, thanks for the volume profile. I have heard chatter of “BTC ETF” sellers rotating to cannabis on this speculation so it could be an interesting week. Check out how Canada trades tomorrow for clues, I don't believe they are on holiday
LCK
Show me the chart, I will tell you the news vibes….
https://www.yahoo.com/news/lifestyle/marijuana-meets-criteria-reclassification-lower-022822168.html
IMO if this come to fruition we are going to run it back 2020-21 style
LCK
Still got my bag, like the narrative rumblings…
Also grabbed a little degen play this morning,MSOX…..volume was lit up
LCK
Haha, probably
LCK
Its working its way through it, narratives heating up….watching volume on MSOS pick up also
LCK
Higher lows…could be a large flag forming
LCK
Thanks, i like Tradingview but not sure about the volume profiles….anyhow charts don't work, its the secret decoder ring thats the charm
Volume coming in, show me the news….
LCK
Nice trade, bull candle coming into the close…holding
LCK