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Just read a great article with Buffet on investing and risk management. He said that no longer will he read balance sheets, P&L, EBITDA etc…he is now using a “news decoder ring” purchased for under 10 $
I’m just kidding everybody, he really didn’t say that.
How about that bear flag on the weekly, just hanging out blowing in the wind? I’m considering taking a bite here. It’s looking exhausted on the sell side to me, at some point this will turn especially with some positive “news”.
Show me the chart, I will tell you the news….love that saying
Hope all is well
LCK
You guys probably dont realize how good you have it in Florida.
LCK
Right! I’m eyeing a bounce play at the moment, possibly…haven’t nibbled yet. Is your decoder ring working ?
LCK
Why not wait for a confirmation in trend reversal? This “catching the bottom” thing is not reality in most cases. It’s been in a clear downtrend since the top, with only one or two false signals of trend reversal. I’m sure there is a bounce play in here if your trading but other than that…ehhh
As the saying goes “picking bottoms only gives you stinky fingers”
LCK
Brah please don’t tell me this NCV are the ones that said JUSHF would be 40$ in a year (going back to the bull run). It’s now like .50 lol
I remember you from a couple years back
LCK
I think your spot on, RSI on the daily is just about to kiss oversold and the flag pole is still in play. I just quickly glanced at the chart this morning and saw it closed in the 3s. I didn’t see what the measured move should be according to the flag but IMO it’s not there yet
LCK
I was curious how much all these “PR newswire” alerts cost?
Maybe another area to cut cost lol…do we need to hear about the signatures again, that most likely will amount to nothing….
The decoder ring, bro its on the wrong finger! Maybe wear it on your big toe…see if that helps
LCK
Bear flagging on the daily and weekly? oh boy….
LCK
Ok player
LCK
Brah, this post is epic. Brilliant
LCK
I pointed out that it was the TCNNF chart because I didnt want you to think I made a squiggly line drawing of Mt Everest
LCK
Printing a 52 week low as I type this…but charts dont work, gotta get me the fluffy news decoder rings you mentioned ! Lol
My opinion ….they tried to expand too fast and now there is contraction of monetary conditions and here they are. I did pay a visit to the Tucson AZ Harvest location in Jan and was very disappointed. Im not going to take digs on a public forum but it was not what I expected after visiting the Trulieve branded locations in Palm Beach/Martin counties.
Good luck
LCK
Yo volume, whats up?
1.3 million yesterday stayed flat
600k ish today, up 4 %
Volume proceeds price
LCK
This is a curious one, cant wait to see how it plays out over the next 18 months.
I have a grip at .05 .07(sold yesterday to book original investment) and a small starter at .28 I picked up when I first did some DD on Core.
I have no idea how this will shake out but as I said…curious. Bull thesis is….the biggest BTC miner with largest hashrate is not going to zero, too much money behind it. Bear thesis…If I read the 8k properly, they are staying on the OTC which always gives me pause. All my opinion and perspective, i threw the chart out the window for this one
All the best
LCK
Here is an explanation i cut/pasted from Investopedia
What Is a Blow-Off Top?
A blow-off top is a chart pattern that shows a steep and rapid increase in a security’s price and trading volume, followed by a steep and rapid drop in price—usually on significant or high volume as well. The rapid changes indicated by a blow-off top, also called a blow-off move or exhaustion move, can be the result of actual news or pure speculation.
I often use the term “return to the mean” ….price retreats to where it started before the mania speculation phase. This is a textbook example on the chart you posted.
LCK
Textbook blowoff top
LCK
Hey there, just saw this post. I exited at .72 for a bit of a loss, its rather boring right now lol so I haven't been paying attention
Lots of nice volatility in the cryptosphere and proxies to it that I has been a play for me.
Hope all is well :)
LCK
Looks about right, if I draw a trend line it looks like 1$ will be resistance. Happy New Year to you
LCK
I like the risk/reward from this area, way oversold…92ish % off the all time high, i believe its already come down 70% off the local top of 2.30 a few weeks ago. Im not a Fib guy but curious what the retracement levels look like?
LCK
It’s gonna bounce at some point, I really thought as the volume ramped up mid day and it was stuck at .80 that it was coming but it went the other direction. I grabbed more at .80, so far I’m getting my ass handed to me haha
LCK
Please post the link so I can see the date of these holdings. Im always happy to be wrong…thats where I learn the most
LCK
Hahahha….yea Mutual Funds are buying risky OTC cannabis stocks to position for 2023. Please dont post you just saw Santa out coming down the chimney
Happy holidays to all….
LCK
The chart was wait to interesting not to take a bite, what you see?
RSI daily oversold with 10 straight red candles with volume, buy order at 1.00 and ready for more if we stay down here. IMO we have a bounce coming?
Have a nice holiday, I’m done with the other board. I never had to raise children and I’m not starting now :)
LCK
I said it would hit single didgits
Hahaha, you funny…love your posts
HoldHigh
Re: Lostcoastkid post# 15033
Tuesday, May 24, 2022 7:07:24 PM
Post# of 16127
Still LMAO at the 8-10 projection. It will never happen. Bollinger Bands, Candlesticks, RSA will never get to 8-10. If it does then a new chart is needed
Honestly, the size is there and the wind offshore….solid 8-10ft clean faces but the swell direction is terrible. Spent 1.5 hours driving around looking for a corner that was open and decided it wasn’t worth it….back on the hunt today
Bottoms…hmmmm, I don’t know. My gut and TA was always pointing me at a “return to the mean/pre stimulus” which was in that 8-9 range and it was hit. A 90% drop like all the Canadian LPs would put it at 5. Im really not paying that close attention at the moment, not interesting to me….I think Locksmith would have a better view at this point….
All the best….
LCK
Damn it just fell through the 200 AND 50 dma in 3 trading sessions….geez. I might look for a quick bounce play at some point, if the RSI hits oversold quickly i could see a nice dead cat happening.
Appreciate what you add to the board mate, all the best
LCK
A chart can’t predict that you are correct, but profits would have been locked in if you sold some when the RSI was overbought….sitting on it (for years) waiting for some guy to sign a paper and than complaining about it is emotions. Not saying that’s you, I’m just pointing out the different mindset.
Regarding your hypothetical….a trade on the sell side would not have been last night but 3 days ago when the RSI was overbought and the wick on the candle, to my eyes, showed profits being taken. Yes, you might have missed an explosion to the upside if the dude signs a paper but…profits locked in. Anyway, I’m like a broken record at this point and have been saying the same crap for 18 months. I’m not a financial advisor or chart guru ….I just try to utilize what’s available to make the best decisions on entries and exits.
All the best…
LCK
You say that because you don’t know how to read charts…the correlation between the run up and the sell off is uncanny. Which came first the news or the RSI? Charts take emotions out of it, that’s all this board is (aside from a few people on here)…an emotional garbage dump
LCK
Thank….god….for….charts!
LCK
Yep, back test for confirmation and I will get interested. No shares for me at the moment
LCK
I finally agree with you on something, this board is for entertainment!! I love your posts
LCK
Best I have seen the chart look in awhile, still some hurdles but the Heikin Ashi on the weekly is showing a new trend has started, we will see….charts done mean anything from what I hear. Break the 200, backtest of support and the pom poms can get dusted off
Its all my opinion anyway, what do i know
LCK
Yea brah not to much going on here….what I do see is that TCNNF is still getting rejected from the 50dma currently at 11.52. The amount of times it has been rejected here since it went below it is dizzying, seriously…. pull up a daily chart with the 50dma and count how many times it has not been able to hold. Also I’m spotting an “M Formation” also and to complete it it would need to come back to the lows again. I don’t follow that pattern that much so any other chartist are welcome to chime in…
Not financial or investment advice, I’m just a chart nerd surfer dood
LCK
Honestly, I didn’t even know about this…now it’s popping up on every message board I read. Terrible look, this could be a big problem in my opinion
LCK
My last post was at 7:20 am….guess where it dropped to? Yes that’s right….$11.01
No, charts don’t work! Lollllzzzzzz…
Currently listening to “Idiots Rule” by Janes Addiction…..
LCK
The first 2 weeks of July 11$ acted as support, it will return there most likely to retest to see if it can hold….if not, back to single digits. If they keep pumping news about cannabis reform then the bleed won’t be so bad.
Not financial advice…all my opinion
LCK
Ha! I just noticed all that volume, huge spike and it still closed below the 50 dma!!!!
I like charts
LCK
I did not lol….just a nibble. Limit sell at 13.08 when the market opened. Best trade I have had in awhile. Pretty obvious it would be a profit taking day so I am stoked at the “realized” gains
I will look to enter and go long at some point, just not today….best wishes my man
LCK