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Going to pullback to 7.44
Operations expected, IMO. Investments and acquisitions has always been denominator among its peers.
7.58 need to turn into support; lots of supply in that area.
Earnings looked great; conference call will be telling.
Once the market opens - that's when the real volume and volatility hit.
Great hear! Glad it’s been very helpful. Appreciate your words and your post!! Always a thing of beauty helping others prosper and being able to pass on knowledge. Looking forward to the next few days with $ACB and the sector. Have a safe and wonderful rest of your day!
Celebrating my day, but here are my quick thoughts. I also expect a potential surprise that many may be overlooking, of which, could come from one of the many investments and acquisitions - which are my main focus. Of course financial statements are important; however, as a trader, I don’t put too much emphasis on them as their past tense looking (snapshot in time). Nevertheless, emotions, algorithms, short sellers, institutional money will be reacting to the results.
I expect sharp movements up and down - just like most of the stocks that report results. THE BIG thing to look for with new companies reporting is their conference call. The 2019 guidance will be significant, as well as understanding the people in leadership.
I don’t intend to look away from the price action; however, many should not react right away. The first 15 minutes of the bell will be very telling. Allow the news to be digested. If one decides to sell. Keep an eye and ear open for the conference call results, as they could either change the course of direction for the recent price movement, or turn into a continuation.
I’ll be looking at this again more closely tonight and may divide additional thoughts more around price and time. Most important thing is to not allow personal biased and beliefs to influence too greatly - it can cause you to become frozen (not selling when you should and not re-entering when you should). No-one needs to be a hero calling a bottom. Admit when you’re wrong and cut loses short. Trying to get the lowest price often leads to dumping too much money into one position, but does help to average down - problem is your position could potentially be most of your portfolio. That increases risks and emotions.
Sorry for the long venting just trying to help people without imposing my beliefs and opinions that could ultimately cause someone to change their trading / investment strategy. Speaking of trading plan. ALWAYS have a written trading plan that contains criteria and scenarios. Read the plan daily (30 minutes before market opens), don’t constantly change your plan or you’ll lose consistency. Consistently is how you become more efficient in decision making and build a natural cadence. Money management is another. ALWAYS scale out of positions taking profits and moving into positions. No-one ever went broke taking profits. And there will always be time to get into any stock, so never feel like your stuck (don’t marry a stock).
Have a safe and wonderful weekend.
~ sent from phone
Thank you, my brother. Always a humbling and memorable day/weekend never forgetting my brothers and sisters, who served side-by-side with me, and unfortunately lost their lives. Grateful for those before me, with me, and after.
Looking forward to Monday with $ACB. Thank you to all those who displayed appreciation on the board and sent me private messages. Always a pleasure building relationships and trying to help others learn, make money, and prosper.
Have a safe and wonderful weekend!
Oorah, my brother!! Semper Fi, Devil Dog.
Awesome motivator! Have a good night as well! Have a safe and wonderful weekend.
~ First One In; Last One Out.
Ok, will do.
I’ll send you something via private message later. Out with the fam hanging at the beach.
Investments and Acquisitions are big on my radar to understand ROI versus their pot production. Many think of cannabis as the “green stuff, lol”; however, with 15 acquisitions over two years and one pending - growth guidance should elevate $ACB to more than just some stock with an inflated market growth because of it’s reference into the cannabis business and sector.
In my opinion, the company has played itself very diligently with making those investments early in their path towards up-listing and brand recognition. I believe many will be caught off guard with $ACB as everyone (talking heads) continue to point towards Canopy Growth.
Expect significant volatility and swings up-and-down. Don’t focus on your P/L when this happens - focus on what’s happening at time and price as support and resistance try to identify it’s footing.
Appreciate you; humbled. My duty to service, god, and country is a very important foundation in life. Service to others is also a staple point, of which, is how my family is raised. People will never understand why we have a “thousand yard stare”, but they know we put our lives on the line with no fancy in return. With an analytical mind and intelligence background - I found trading many years ago. I’ve been teaching my son (13) about financial markets and equities for several years now. I always enjoy helping others (with nothing in return expected) to provide a different perspective (through another lens), prosper (not just financially) and if nothing else to put a smile on their face. Never an agenda with me other than to help those who can use it, whether they seek it or not.
Thank you for your service as well! Have a safe and wonderful weekend my friend. These are moments in life to cherish and embrace with those (like us) who may need someone to just say, “Thank You”.
Thank you, my brother. It’s the one weekend where I feel veterans feel the most appreciated l, yet they’ll never understand what we’ve gone through or why we have a “thousand yard stare”. Have a safe and wonderful weekend!
Thank you brother. Looking forward to our special weekend! Have a safe and wonderful day!!
Marine vet here bruh, thanks for your service buddy! ~ Semper Fi
Broader Markets gapped down; bouncing off the low off the day around 3pm ET (I'll have to check my post for the exact time). Cannabis sector, like many other stocks and sectors, remain in bearish correction territory. Today, with the help of market manipulation (bulk trades painting the tape at 4pm; especially with $ACB) the big board cannabis stocks edged out of bearish correction territory with Canopy Growth looking the strongest overall.
To address your statement, "If Monday's revenues were excellent, this stock wouldn't be deep in red just hours before...", the price action leading up to the earnings report is irrelevant. I've witnessed many $100+ and $1,000+ stocks run-up and run-up prior to earnings where earnings either aligned with the pre-earnings results, or gapped and ran in the opposite direction. It's all psychological.
2018 has been full of earnings results beating the streets expectations; however, future guidance caused them to fall. The same can be said in reverse. Truth is no-one knows how the institutional money, algorithms, and general psychology of investors and traders will react, until the earnings are reported and the conference call is completed. I'd expect some knee-jerking volatility throughout the morning hours. Trade with caution and protect your capital.
Responded to you
20mins; range is pinching tight. Let's see what happens.
No. I scaled into my whole position earlier around 10:45am ; stops are also in place.
Needs strength going into the close.
Yesterday, yes. Today gap-down is still off the lows at 7.00. The range is very tight with only being .42, thus far.
Market volume picking up; selling pressure drying. Futures bottom found for today.
Need to turn 7.22 into support to move up.
Futures looking good... Fear gauge off the highs. $ACB needs to follow the movement
Futures attempting to find a bottom off the lows of the day. Market internals extremely bearish with fear gauge spiking at high of day. Futures attempted at noon, but failed. Could see a 3:00pm spike upwards with these internal conditions.
$ACB and cannabis could potentially get a boost with the NYSE and healthcare sector, if market conditions reverse.
Yes. Well everything remains mostly in correction across the board. Market internals are extremely bearish - so bearish we could be a 3:00 pm spike in the markets off the bearishness alone.
Always best to accumulate when people are not talking about it. Usually when people are talking about it - most are chasing, as those who accumulated are distributing. Trading 101.
Media coverage is usually a death trap for stocks when spoken about non-stop. Especially those talking heads on CNBC, are talking about it - the short is in. FOMO becomes an active agent and people begin buying to avoid missing the "Rich Overnight" stock.
Mixed IMO. It will really all come down to acquisition ROI's, share issuance (especially w/ ICC labs), and any potential notes coming due. 2019 guidance carries almost as much (or more) weight than the earnings themselves these days.
Looking good. Above 7.35 very bullish bounce move. I'm all scaled into this position with stop at 7.00. Resistance at 7.41/7.44.
Almost out of correction territory.
Position has fully scaled in.
Always
Scaling in here with stops at 7.00.
Price dipping it's toe. Sidelines still for me. Not trying to be a hero catching the bottom, etc. Nothing wrong with paying a little more than trying to catch a falling knife - that keeps falling, due to failed dead cat bounces. Watch the spikes as well. Spikes provoke emotions and may cause you to buy on impulse only to regret it a few minutes later.
I leverage it as needed. Always a risk, so not intended for everyone; especially if someone doesn't know how to use it properly.
You can buy on margin; however, the issue is your broker will require you to sell it (Margin Call) or cover it with deposits ASAP, due to volatility increase with earnings coming up. That may be part of the issue with the selling today as well.
Wait on sidelines; don't try to catch a falling knife.
Back in correction; possible bounce 7.10.
Very welcome. Glad it helped. Good luck trading; have a great rest of your night.
$ACB is releasing 1st QFY19. Since the call is 10:30am ET, I suspect the earnings to be released before the market opens.