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Meeting according to the transcripts was likely called to discuss energy markets.
Interesting I'll look into this. I've actually got a little conspiracy theory that popped into my mind a couple days ago pertaining to russia and the recent collapse that I've been meaning to dig into.
Call it premonition. I havent fully acted on it yet as I've been to busy keeping up with everything else and making little trades here and there. Traded cgc over night lastnight and got out before the bell this morning. 10% profits trading chump change. Haha. It wasn't much but pretty sweet deal for 5 minutes and 2 button clicks. Was in around 10.50s out at 12.00s.
Sucks that I cant put my full account to work. I'm only trading 1000s at the moment. It's to risky to go big, but I've got to keep my skills sharp so little trades here and there.
Looking at delta airlines, disney, six flags, and PG as well as CGC. Still need to look into cruise lines. May also add oxy later this year depending out how russia and the Saudis meetings go next week.
Made an easy 10% flipping lastnigh after hours and selling off this morning.
Pretty much.
Recent liquidity injection of 1.5 trillion has me on edge. I think it was a very bad decision.
Tried to execute several short orders this morning. Unfortunately it seems that the markets will gap down significantly and that will not happen.
The floor is falling out from under whoever's left.
The snap back will be slow. The drop will continue.
I was actively trading CGC then so sure. But I'm just gonna touch on a few key things. The beginning of the slip in share price was caused by the removal of Bruce Linton. To Further complicate things the quarterly reports for the entire sector were not very impressive thus creating an unstable trading environment. Add a little flair with constellations and let's also add the first bell curve indicator popped in I believe August which indicated that the global markets were in trouble. CGCs latest earning weren't actually bad but it doesn't make a difference as we can now clearly see the virus is not picky.
Markets will be deep red in the morning. Next 10 days are critical.
30% at this point seems to low. Looking for a minimum of 40% in the next 10 days.
Leaning towards 60% shave in the major markets. Unprecedented times require an unprecedented drop.
Main thing to take away. It's about to get bloody as hell up in here.
Thanks man. I do think a recession will fire up from this, but that's ok so long as you enter at the bottom.
Everything's a falling knife. Lol unless your short or inverse etf.
Can someone say bear territory. *whistles* today. Damn. Its gonna get worse. If you arn't convinced by now god help you.
CGC will continue down as well as all other stocks. Bottom has not been hit.
Heads up was given. See the post from the 26th.
Refer to some of my previous posts. So long as the dow has not touch at minimum 30% from the top all stocks current prices are subject to continue their downward trajectory. What you see now may be a great entry point, at the same time it may be very high. This is why I am relying on the DOW and S&P to try and determine the entry points for all stocks on my watch lists. This includes CGC.
For now I expected all stocks to continue down and I will not take up a position until the major markets have met my current criteria.
The release stated shutting down which implies holding for future use. Nothing said they would be liquidated or sold off.
I dont have a premium account mate. Anyway I think cruise lines would be a good place to look. From what I can tell theyve taken quite the beating.
As for today we will see deep red in the markets. Primarily resulting from lastnights lack luster press conference on the handling of the virus.
IE it appears that we are going to let this thing get way out of hand before we crack down on it.
Expect CGC to continue downward. I believe the non virus related items pertaining to CGC have already priced themselves in. I suspect the continued chaos in the markets however will be enough to send cgc into $X.00 singles areas US. Again looking for $8.00, nowwhat made obvious that the $10.00 US area is coming. I think we will pass that up and average somewhere between 10 and 5 US.
I'd be watching oil to short. Theres evidence that the saudis will continue to ratcheting up production. This will drive prices further down.
You could also buy the inverse etfs against the S&P and Nasdaq daily. They'll be going down. Watch out for compounding.
Or you could take the time off from trading and start building a list of companies to buy when we hit bottom. Which is what I will be doing. I may dabble in inverse etfs as well if headlines peak my interests.
My major focus moving forward will be looking at the fundamentals and buying up the companies that have strong fundamentals. Delta airlines is on my radar for example.
As for major companies that stand to benefit from the virus. I'd be leery on buying simply because the ground floor hasn't been established yet, but when it has I think you could profit handsomely from them. Netflix is a fantastic choice.
I'll keep CGC on my watch lists. I think it still has potential long term and I will likely acquire a substantial position when bottom of the major markets has been reached to hold for a very long period of time.
I'm thinking this will be somewhere in the teens on the DOW based on a historical perspective. Target pricing between 15K and 18K at which point I will likely take up initial stakes in all of my selected positions
Yes. John the virus itself has created massive feedback loops that are going to feed into themselves. This in turn is going to drive the country into a recession. The major markets will continue down because there is no quick and immediate response to resolving this problem. It's going to take years to fully realise the extent of the damage and fully recover from what has been done.
A major example of one feed back loop is the failed OPEC deal and collapse of oil prices. Directly caused by the virus and saudis trying to cut supply to keep prices stable due to the lack of demand for oil (quarantine means no travel means no need for fuel). This was amplified when russia refused (likely a smart move given OPEC is a terrible idea by design anyway).
Another one would be the huge surplus in metals that has now developed due to China manufacturing plants being locked down.
Another is extreme delayed shipping times for back ordered products.
Another is lack of medical supplies and pharmaceutical compounds
Another will be social distancing and its effect on tourism and travel on a large scale to smaller scales (concerts) ect.
Theres to many to name to be honest. These feed back loops are already in motion and the virus is just now beginning to take a real foothold which suggests it's not going away at least until herd immunity is established. Which cannot be done without a vaccination. 1-2 years out at minimum for vaccination. Not to mention the is a very high likelyhood a second wave will occur and it will out do this first wave as most pandemics do.
Keeping this in mind that we are just beginning to see the damage that has already been done and that feed back loops tend to feed into themselves it is easy to see that a recession has begun. We also have similiar accounts in history to back these observations up, however we are in unprecedented times now.
Now soon enough we will have almost 0% interest and all kinds of stimulus efforts aimed at mitigating this disaster. All of which have are unlikely to resolve these problems because we are talking about something that is highly unpredictable and cannot be wished away with monetary policy change.
And no I'm not saying this is the end of the world. I'm simply saying the bull run which has been on going for 10 years was already on it's way out the door, then the virus came along and took the house along with it.
You will see deep red and extreme volatility. In addition to this I think you will see a change in investor sentiment, credit, and monetary policy soon enough.
As I stated awhile ago. Buckle up. We are in for one hell of a ride.
If anyone disagrees with this by all means feel free to share.
My opinion however is recession will occur. This problem will not be immediately resolved. Damage has been done and will continue to be done. This damage may become more sever depending on the next 2-3 weeks.
Best of luck.
The problem with his a couple years opinion is that a lot can happen in 2 years when a bear market forms. Long investments made at the beginning of a bear market imo are a bad idea, especially considering how young the cannibis industry in canada is. Bear market will be a catalyst to several companies demise. Not saying CGC will go belly up, but trading strategies will need to change.
Not a part of the board. I am however currently looking into inverse etfs against the S&P index.
I'll check the board out when I've got time. Thanks for the share.
Just an observation.
Another important thing to be weary about. Expect stimulus to be injected into the markets. I'm not entirely sure of and how they will work. This could change current predictions.
I do not think last nights stimulus and taxes cuts are going to help.
This is the cold hard truth. These mistakes will fire up a recession. So again possible trading between may to july. Possible recovery as early as 2022.
I agree. The US is in for a major show. The virus will explode and the main reason is because enough action was not taken early enough to stop the spread. The virus was downplayed by DC and by the media. When folks started realizing this the media then blew up further causing chaos and panick. People simply no longer trust politics in DC and or the media so we once again are in a situation where most folks didnt care. After yesterday's fiasco people are now beginning to realise the gravity of this situation. We therefore will be forced to take extreme preventative measures on a scale never seen by this country because we are so late to effectively respond.
Sure John. I hate to be the bearer of bad news, but if we consider other countries and their path to successfully handling this virus I think there is a very high likelihood that the US will implement significant measures aimed at reducing the spread of the virus with in the next 2-3 weeks. I also predict that 1 month from now you will see the case numbers exploding as the virus is acting in an exponential fashion.
In 1 month I believe there is a very high likelihood hospital systems will be completely overwhelmed.
I think the best case scenario is leadership will realise this within the next 2 weeks and act swiftly to slow the progression. I am certain containment measures are about to ramp up.
I suspect at minimum several major cities if not states on the west cost will be completely quarantined. I also suspect NY and TX will be quarantined.
Depending on just how bad this really gets you may even see the entire country locked down. Hard to believe because this is the US, but as a former microbiologist, now engineer I can tell you that this bug going around is a nasty one. Once it overwhelms the system, its fatality rate jumps as well. This is the reason Italy implemented a full lock down yesterday. Top officials were made aware that the systems were overloaded.
I've described here in a timeline. When these events occur the markets will take hard hits. I now believe partial market recovery I highly depended on how aggressive the US is at slowing the virus. If highly aggressive I'd say bottom could be as early as this summer. Investors will need to be careful however and fully prepared to exit positions this coming fall at which point I believe the virus will come back for round 2 which if it behaves in the manner of h1n1 from 2008 it will come back with a vengeance and with twice the force again exponential. This alone will catch us once again and drive the markets down once again.
Full recovery market wise will arrive as early as 2022.
Next possible major trading opportunity is probably between late may and early july. This period will tighten as history unfolds.
This applies to CGC as well.
Travel wise I'd say anything April to May could be a huge gamble.
I'd stay short on it. Its gonna go lower.
Unless of course you got in before and only intend to flip. Then by all means go right ahead. This mornings bounce was easy peasy.
Rebound from yesterdays massive losses in combination with possible tax cuts. I suspect we will do a bit of sideways here this week then the virus numbers will get out of control and bigger measures will have to be taken. This will send the share price of the major markets down.
I'll check back in later today.
Overall opinion is to hold off. It's not time to buy yet.
Right. I recall not long ago telling you 14s where coming when you were accumulating in the 18s.
I wouldn't touch it yet. Markets are not done going down yet.
That was supposed to be a thumbs up. Not "??".
TBH, It's an averaged point between 10s and 5s. I'm not sure we can hold 10s.
Correction 14s US are officially a resistance area. 8s US are the next support.
Current global market turmoil indicates 8s are very likely.
Not sure on a time frame just yet, but given there isn't any good historical supports in between I suspect when it does make the drop it will do so quickly.
Lol support. My bad. I'm looking at things in backwards now. Have been since early February. Haha thanks for catching my mistake.
Yah... its a very bad sign.
Next official resistence point is upper 8s US. But at this point I really don't care. Because I'm more worried about the markets than I am about the various stocks I want to own. The markets are flashing major ALARM BELLS.
I'd stay out of this. Anyone playing this in hopes of greener pastures is playing a very very dangerous game.
Only see red going forward. Recession/bear market will confirm. Safe trading.
This drop has nothing to do with CGC. It has everything to do with the corona virus and failed OPEC deal. Pull your head out of your a**.
As predicted 14.00s have arrived.
It's as I feared. Market chaos will drive all prices down. WHAT A BLOOD BATH WE HAVE HERE. *whistles* this is why I'm sitting on cash.
Hello 14's your only 1 trading day late as predicted.