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It was based on the retrace level from the peak. I started purchasing at 33% down with small position scaling down slowly.
Todays buy I doubled my position leaving plenty of cash to avg down more if needed.
I also saw the morning volume spike dropping it and it looked very much like the climax of a move. Works both ways up and down.
You are 100% right though there is no long term technical reasoning.
Got my 3.75 U.S.
Scenarios for next two weeks
*We start to run hot next week into Oct 17th, RSI levels get overbought and we sell off Oct 17th area.
*Stay flat into Oct 17th and then we start running
*Nothing happens, we stay flat and Nov U.S. elections determine direction due to States rights bill, Farm Bill, Sessions being removed.
Bearish scenario's
* We sell off Oct 17th area after being flat. Why would we sell off after weeks of consolidation and institutional numbers % growing? Maybe broader market becomes bearish.
Tweed was much the same way for over a year. Volume is just wild low.
Sorry, not sure if we are on same page. When looking at charts your time frames vary from 1-min candle to all the way to weekly candles.
On the daily candle and 4hr candle it looks like consolidation/bull flag.
Smaller time frames earlier looked like bear flag but that has played out/broken into higher low/lower high tightening.
I'm on the same boat- I'm scaling in like I did with Growth. I learned alot being an early investor in Growth/Tweed on how these plays can take time to catch the eyes of people. This feels just like those days. Scale in Scale in Scale in.
What time frame? If you are talking hourly it looked like a bear flag. 4 hour and daily look like consolidation and a massive bull flag which leads into late Oct.
Scaled in some more. My big buy will be 3.75 area if it gets there.
Thank you!
half mine were returned at the end of day too.
No. Take time to call and speak with either the facility or IR. This is nonsense.
I spoke to IR - Here is the part of the conversation that matters.
I read it as people online are full of smack.
"With information obtained from online sources, it is difficult for people to verify the accuracy of that information or that it was posted without an agenda."
I doubt Dre will mess with Snoops money in here.
Employee at Canopy F'd up.
https://www.marketwatch.com/amp/story/guid/4D6F1D6E-C346-11E8-A093-13743CA72ABE
Yes sir. It's not bad volume historically. That's why I compare it to constellation deal. It was a game changer for this stock.
Sector is much the same and CGC seems to be following SPY pretty close.
Looks like this will be the lowest volume day since Constellation.
This is a strange open. Very low volume. No clear direction. Gap got filled. Still no emphasis.
If it were they would have to disclose it as material change.
This guy has made the same claim before even going as far as saying he would call in and confront Bruce. I'm on every call and he has never followed through nor been correct about Canopy. He has from day one been a nay sayer.
But hey, let the NEW folks with no credibility that suddenly appear do their thing.
Again, that isn't one persons twitter who has made this type of claim before and it was a lie then?
If this had any material effect on PPS it would had happened today and the volume would not have been below average for the past two weeks.
Us old timers here are no fools.
Show me the evidence that isn't one persons claims. Otherwise you are in the wrong place to convince anyone.
We have heard this before and it was BS then too.
The same names that have been singing Canopy's doom and gloom for years keep coming back and keep being wrong while us longs sit here VERY pretty. Please - I'll believe Canopy whom has not failed me over some guys Twitter whom has consistently been full of it and never followed up with his claims.
The stock isn't dipping on this. If it was news driven the volume would be MUCH higher. Todays volume is below average for the past two weeks.
Really was a fun watch.
Post market reaction to Ontario indicates a non event. Every LP on U.S. exchange is up slightly. No one cares.
At the end of the day CGC followed SPY almost tick for tick. The broader market sold off Fed rate hike press Q/A not even the rate hike news. In-fact the market rallied on the rate hike news at first.
If by any chance the market continues its sell off tomorrow so will LPs.
It will have nothing to do with Ontario. If Ontario was material it would have showed by now in post market. Why now and not on other days you may be asking?
Look at the volume. We had the lowest volume today since the Constellation deal announcement. Over a month. The less volume the more we follow the broader market moves.
lol, it's almost as reliable as the sunrise and sunset.
Thanks!
Thank you!
What's the interest rate? Last I got yesterday was 2.65% but then they returned them.
He's just sour because he divested everything when he was below 10 a share.
Around 5.00 U.S.
I have a thesis that bloated piggy was just a pawn of the market.
A way to derail momentum an FOMO before the real fireworks.
I agree if all things move as expected. Heck just with U.S. opening it would hit that.
Hit about that 38% retrace level. Now it's a question of will it hold and not go all the way to 50%. Either way I think 50% is a great place to load heavy.
I'm glad you are taking what you learned with Growth and applying it to Rivers. I like the Rivers model and prospects. Also like the investment thesis of stick to your winners. That includes leadership like Bruce.
Also, check this out.
https://twitter.com/canopyriversinc/status/1044266969611063296?s=21
Super excited that @CanopyRiversInc is working with #cannabis delivery company #Dutchie on their international/Canadian expansion. Raised $3M from @casaverdecap (VC fund of @SnoopDogg ), and @KDTrey5 Durant Company (among others). | @TechCrunch
While possible keep in mind that just like Bruce said the float is super low for them. It would be difficult for Growth to do that. Not impossible with enough Institutional holding and FOMO though. Heck I think it could happen, but I'm not counting on it.
This is why one of my rules is to not buy IPO.
This is near the 38% FIB Retrace. I will load heavy at 50% or 3.75 U.S. if it gets there. For now I will continue to scale in.
Got my first fill of Rivers at 5.01 U.S. Will scale in like I did with Growth. Thesis on this one is that I will flip it while holding core. Will also sell entire holding when I sell Growth.
Got my first fill of Rivers at 5.01 U.S. Will scale in like I did with Growth. Thesis on this one is that I will flip it while holding core. Will also sell entire holding when I sell Growth.
That would be a nice use of marketing. Canopy continues to be the leader.
Thank you!