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The SA article about PHOT did not cause the drop - the entire sector went down and it will come back. Managment at PHOT knows this and will not respond to an irrelevent publication. I believe they are working to move this company through a smoke cloud of uncharted territory of regulations and restriction from both gov't and finance. You got to know that getting up a company that is involved in taking a product that is illegal to a legal marketable status ain't easy and takes time and attention.
They brought it down, picked up the shares that the naive, scared and weak sold and will now let it go north again.
Welcome to the pinks, this is a sport here.
You are correct Tex, in this trading land this activity goes with the territory. The buyers are returning - but why so soon?
AB wrote a similar article for SA about MJN@ last winter that dropped that company in a similar manner however that one was more to the truth.
If you look at today's charts for PHOT, TRT$ and GRN#, you'll notice that they all began dropping at the same time (2PM), at about the same rate, the same % and almost to the same bottom. PHOT and TRT$ both topped at about .45 and both bottomed at about .25 Some other stocks in the sector were little affected. That and the rumors that there was a warning of a sell-off 30 minutes before it happened says it was all probably orchestrated. However, this should have been expected given the big run-up in the last two days - aren't we back where we opened on Tues? These woods are full of profiteers...the enormous euphoria that drove this sector after the Colo opening, the Cuomo NY announcement and all the media coverage set this up for a big fall. You had to know it was coming, just not when or how much. The three issues mentioned above are darlings of the MJ sector and are heavily traded, this targeted them for the takedown. We will go back up, but not as quickly. There's too much to like here and much of the excitment is over. Hang on, you'll make money. This is what I THINK, not what I KNOW, keep that in mind.
Your point is well taken. I have watched this sector for about a year now and am in only PHOT and TRT#. There are SEC accountable, good management connections and not a lot of bluster. I'm not surpised they are the only issues brokers can pitch. Good post, LOB.
This much volumne early has clear meaning, we're just getting started.
Profit takers active throughout the sector - should level in high .30s or .40.
How is this going to trade when the shares are increased in Feb. as projected? Anybody?
Hell of a day!!
This will see .10 before it sees .22, not that it won'a see .22 again, it will, but its got to go down, pick up me and some others first. This has been like driving a truck in and out of a gold mine.
Good close. Profiting taking during the day and still a green close - strong issue.
Doubt this will ever see mid-20s again, will get back up but then - well, you guys know the drill. Buy it low, .14, sell it high, .19 -.20. - a flipper's textbook. This will never have credibility in the MJ sector, not with these connections.
Over 30 mil traded in the first hour - of course there will be dips, it goes with the territory. Something moving this fast will see profit taking, lots of it, but look for PHOT to shrug it off and continue up, maybe jerky at times, but up. This is the complete trading opposite of MJN#, a flipper if there ever was one, check out its action today.
Of eight MJ stocks I pay attention to, three (PHOT, TRT# and PUGE - all OTC BB) are still up, the rest, including MJN#, are dropping. Any talk of TRT# and PHOT teaming up?
Great finish!! Volume all over the sector unbelieveable!!!
Massive volumne throughout the sector - even in the pinks - confirms what we all knew; that this has arrived and is not gooing away anytime soon.
Massive volumne throughout the sector - even in the pinks - confirms what we all knew; that this has arrived and is not going away anytime soon.
Those that include the name of the product (MJ, cannabis) in the company name will get the initial attention, however after a closer look the money will shift this way, to a more level, stable place. This will go on until the excitment wanes, probably in a few days. PHOT is a well run company and well positioned for this break-out. IMO
The attraction here is in the name of the company as well as with others with the cannabis or MJ label. The whole sector is moving north quickly for obvious reasons, however those with no MJ identity are also soaring and will continue to do so long after this and many like it have leveled or fallen, and after deep investors begin doing some serious DD. This is a flipper and a damn good one - always has been and always will be.
Are we trading a full day today??
52 week high will be met and surpassed, seriously surpassed.
Here comes the lunchtime crowd!! What would you rather have; an SEC reporting company or M. Lamas, Michele and Charlie??
Goodbye MJNA, goodbye Michele S, Michael L, Charlie W and all you other guys. It was fun, profitable and even educational. We made money and I'm sure you did too, but now its time to go. Normally at this point I would be loading up on MJNA, but not this time - this time it won't be coming back. It's over. There are a lot of MJ companies well positioned for the breakout in this sector - but you're not one of them. It's been a great year and I'll always have the memories. In the words of the late great balladeer Ray Price, I want to thank you "For the good times". So long old friend - so long MJNA.
Been here, done this before. Fill up with the cheapies while you con.
Probably much more valuable; a very rich patent portfolio, much slimmer payroll, a $7.2B bigger bankroll and a housefull of geeky R&D people - I'm betting on them to gradually get bigger.
Will go to .15 - maybe .16 - Monday AM, then settle at .14 and change again. You all know the drill. If you know the game they're playing, play it with them. This will not be anything but a flipper until there is a change at the top - PERIOD.
If it's bumping $8, it will soon be there. This is a slow mover but everything points north, they have too much money and their patent portfolio is rich, real rich. When this MSFT deal clears they will begin poking around for potential buys and R$D expansion, thus new product. $15 - $16 by summer 2014.
In for 100 shares and ready to fly!!! GG TRTC!!!!
The first rule of a lawsuit is to sue for cause where cause exists - not relevent here.
Will settle at or just below $7 and hold until 11/19 vote.
Will settle at or just below $7.
Interest is falling in this, what? 50 posts today and most of those from cheerleaders and doomsayers. This is good - it will go down a bit more but sooner or later there will be a few small newsies; couple of more states leaning our way, a statement from the feds or the medical community, etc, that will take it back to 20+ and another selling opp. This isn't going away, over time maybe some big $, but right now buy it cheap and take profit when able. Look up "flipper" in the dictionary and you'll see
"MJNA".
Standards are changing indeed! The ad in Denver (there will be many more such ads, you know that), the hearings in DC next week, that festival in Balto late this month and other such events, its like MJ is coming out of the closet. The exposure was expected for sure but not this quickly and this extensive. We will get a big blow-up - whether it stays up, another story.
I agree. Much of the news that has come out in the last 10 months has been piecemeal - parts of the puzzles. A conclusive, definitive statement from the Feds will draw attention from the right investors. Hopefully that will be this month. GL
Not so sure of that. It may take off big eventually, but not on last weeks news. It will roar out tomorrow then whimper back down,
profits still to be made. If you wrote a book on flipping pennies you'd have to include a chapter on MJNA in 2013.
The onslaught of sells has waned. Half the people on this board had been waiting for Tues spike to occur, including me - profits were EARNED! This may be a steady eddie stock sometime but right now and for the next couple of years, its a trader - buy some, take some. The news from Holder and Gupta wasn't really news at all as much as it was hopeful ideals of a couple of prominent players - it's still federally illegal, still medicinally legal in 21 states and prosecutors around the country will still put people in jail for it. All this will change but it will be awhile. It's still substantially above what it was last week at this time - volumne will be lower, trading more deliberate and when it gets to .22 -.24, 8/13 will be repeated. Bet on it and get ready. BTW, this is only what I think will happen, I've made profit (Tues) and I've losta bunch by listening to myself. Live and learn.
You had to see this coming - the sizzle from CNN and Holder followed by the fully expected less than steller Q2 report. Many whho paid attention got paid $$ today. If you're still here however look at Friday's open and today's close - what's that? 20% plus?? This ain't going away anytime soon.
The push from the CNN piece is over, it was about as expected. Holder however, while really just reinforcing Ogden, should add a little more. It's becoming clear to more people that mmj is no longer the mad reefer anymore. The real move, IMO, will come after the fins are out this week - that will keep it over .20 or drop it back to .13 - .14 depending on the #'s.
It will go up this week more on Holder's word than Gupta's, the fin report Weds will be a shot in the ass one way or the other. News, any news, moves this but getting the feds to mellow is huge.