Followers | 404 |
Posts | 6,495 |
Boards Moderated | 0 |
Alias Born | 12/06/2012 |
Twitter Profile: | Temporarily Unavailable |
Follow on Twitter: | Follow @ Temporarily Unavailable |
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Above 6.65 holding gets it going...
That’s mythical, but hey if that works for you and others than so be it. 6.75 is our support area target.
Let’s get out of correction territory first.
Yes, once over 6.65 and hold it.
6.65. Now hold as support; especially close above.
6.55 - 6.65 Resistance will cause small pullback (loading opp.) need to turn into support.
ACB looking good above 6.00. Resistance at 6.65; need to turn that into support. Market Internals strong this morning.
Timing and patience is how you win the market; especially in the current context.
Let’s make bank
Keep in mind: ACB ran up on rumors and many imposed their own beliefs that ACB would explode to the up-side, once effectively live on NYSE. This setup ACB for the perfect short seller criteria.
Bigger picture: The entire U.S. market established bearish sentiment on Oct. 10th, resulting into a bearish correction downtrend, until this past Monday at 3:45 when the institutional buyers stepped in on all indices. This is evident on the 15-min chart, if you are interested.
Also keep in mind that the cannabis sector is attached to the Healthcare Sector, which also carries weight on the impacts to the cannabis stocks as a whole. It didn’t help with the NYSE getting slaughtered. In addition to all that, Margin Calls were being called by brokers causing people to sell more-and-more on the downtrend as they continued trying to catch a falling knife (evident on the dead cat bounces).
The smart thing to do in that type of market is to keep money on the sidelines (as I’ve been posting), until the market holistically found support (like I said this past Monday at 3:45) and then waiting for that climax open, which we received yesterday - signaling the trend reversal (taking into consideration a few other factors). Once ACB turned 6.00 into support and was able to close above - this setup the buy signal with a stop-loss at 5.50.
Next target is 6.67 and 7.55.
Note: Cannabis is HEAVY shorted, so ‘eventually’ these shorts will cover which has evidence of that taking place (or starting) yesterday. This will increase the buying volume, since they need to buy back their short positions to close them.
Awesome buddy! Love seeing people make $$$
Here’s the support area we want at 6.19. Stop-losses at 6.00 and 5.50.
Let’s turn 6.19 into support
Continuing to look stable; market breadth, sectors, indices, and fear gauge all stabilizing.
FB reports after bell - they should help to pick up Tech and encourage earnings for the major plays coming this week such as Apple.
6.00 is a key level. Markets looking stable - yesterday’s closing action at 3:45 gave the bulls signal and warning to the short sellers. Institutional buyers have arrived.
True and that’s okay. Always has to be sheep in the markets. I can only trade based on logic and experience - avoiding self imposed thoughts and speculation.
Aurora doesn’t need Coca-Cola! Their progress and vision is based on the acquisitions and expansion. That’s more important than $KO. All this talk about Coke makes no sense. $KO can acquire a smaller company and do it themselves. Focus on the medical expansions. They are more than a weed grower and dispensary.
Keep in mind: NYSE and Healthcare sector have been down for 10 days and in correction. $ACB is linked to both, so that must be taken into context. 98% of the market is in bear correction territory.
Not necessarily. Breadth still stable. Markets trying to find it’s footing.
6.00 turning into resistance. Must turn that area into support...
Coca-Cola shot down Aurora rumors of CBD drinks, so let’s put that non-sense speculation to rest. It has no place in trading, since it’s just a psychological mentality imposing on ones beliefs. Those types of thoughts can be very damaging to your performance and blowing up your account.
Nice. ALWAYS. Have a stop-loss target pointed out. Today’s climax was best time to do so. Just watch support and resistance levels.
When entering a trade always have a price target (short and long) for profits (30-50% of position) and a stop-loss target before actually pulling the trigger. Most importantly understand the overall market sentiment before engaging in a direction.
Yes, climax bounce. Markets are now up. Yesterday’s last 30 minutes gave us an early warning that institutional buyers were present.
Market breadth showing signs of improvement. $ACB above 6.00 is a good starting point as support and stop-loss below. $6.60 would be an ideal entry point with support and $6.00 as stop-loss.
6.60 would be very bullish as a level turned into support and entry. Nothing wrong with paying more when you’re back into the trend.
Stop-loss would be between 6.00 - 6.20.
Need 6.00 back as support; huge volume climax spike intraday.
Wide spreads, not a fan.
You’re welcome. Just take predicting the bottom out of the guessing game. I’d rather chase the trend reversal than keep buying lower and lower with no clear bottom in sight. Glad my posts were helpful; no biased opinion here. I never get married to a stock no matter how much I maybe it or love it. That goes for my NVDA, AMZN, APPL, and several others.
You’ll know when the markets are reversing. Think bigger picture (sectors and indices) over individual stocks. For instance, cannabis is in the healthcare ETF and part of indices (I.e. NYSE) they are following the trend
Futures are now red as well, after being up over 100 points. Today could be the climax flush the markets have been waiting for to reverse the trend, but patience and discipline must be priority number 1 to protect capital, until the sectors and indices can find support. This will bring the Money Flow back in the picture from institutional firms.
Have to wait. Gap at 5.00 may close. Can’t predict when a bear market will end or reverse just take it day by day. Small bounces are being sold off and Margin Accounts of bulls are being Called. This increases selling pressure.
Oversold conditions don’t mean a bounce. It’s just an indicator to show control. The entire stock market has been oversold for almost 2 weeks. In bear markets this is what you expect to happen and the oversold condition can remain for long durations.
The markets need to climb out of correction territory before we can see some sunlight.
Keep the powder dry. Don’t go against the trend - wait for the reversal. Take your biased out of the market until the time is right. Catching a falling knife can be catastrophic!
$ACB listed just as market correction was n play but it was not currently in correction, nor did many expect it. So calling it a coincidence is using hindsight of what many know about about the overall market. For instance, no-one expected Boeing to drop $30 plus today and Amazon to be at $1500 at one point (there are too many examples to list).
It’s important to keep in mind that the entire market is in correction. And cannabis is no exception. Look at the healthcare ETF and see how it’s also beatdown - most cannabis stocks are located in this sector as a pharmaceutical. $ACB is not an exception to the overall market just because they up-listed and have a promising growth. The biggest companies in the world are down and have been down for as many as 10+ days during this correction, so the bigger picture must be in context.
If insiders were selling (or buying) they’d be filing Form-4s; regulates by the SEC. Again, another coincidence based on the overall market performance.
IMPORTANT: the overall market began showing signs of bullish weakness as of October 10th. Cannabis sector is included.
With so much hype around $ACB and the up-listing people were buying at all levels of the price movement (more particularly at the top when the shorts began borrowing shares from brokers); therefore, distribution phase began.
As for Today. The major markets made an impressive move between 3:30 and 4:00. Where institutional buyers stepped-in causing the market to close well off the lows. For instance Dow Industrial was down 600 points at 3:30 - 3:45 and within minutes was only down 250 points. That is huge money flow caused by institutional buying. The same is said for the NYSE, NASDAQ, etc.
As for the T-Trades they are caused by pre/post market trades. Captured for transparency purposes on the tape.
Protect Capital by keeping it on the sidelines.
95% of broader market remains in correction territory for the past week and a half. More China tariffs reported and Tech bringing the market down daily, as we approach end of month.
Even Boeing is down $30 dollars, which is unheard of. Amazon and Tech dropping like rocks for the week and a half.
Keep in mind, NYSE, has been in correction territory since the 10th of October, along with 90% of the market.
Figures already came our for Aurora Cannabis Inc (NYSE:ACB) $458 million in short interest for U.S.-listed ticker, $197 million in short interest for Canadian ticker, $128.9 million in total October profits for short sellers.
Keep money on sidelines. Potential gap fill at 5.00. No sense in trying to catch a falling knife or chasing lower and lower prices. WAIT... for the market to settle down and stabilize.
This doesn't trade on OTC and ticker symbol is $ACB not $ACBFF
That's problem. Supply > Demand right now. Not to mention in correction territory and an open gap at 5.00 still remains, which the shorts may be targeting for closing of those positions.
Just have to allow it to fall - put dry powder on the sidelines. No sense trying to catching a falling knife or be the hero buying the very bottom, which $ACB cannot seem to find with bears controlling the momentum.
Not shorting $ABC just flipping gaps. I’m about making money and protecting capital. Everyone has their own trading plan, so just need to follow it. Correction territory is not a buy and hold strategy for me to hold. Once certain criteria (for me) surface, then I’ll initiate a larger sum of money for rides to resistance points.
Always follow your trading plan. I’m done justifying myself but thanks for your concern.
All is good with me yes, I Day and swing trade for a living not solely invest. I am not a it and hold through all the swing type player. Been going great for 10+ years, but thanks. Made some nice bank off $ACB but nearly as much as my much bigger positions in tech, which have mostly been short and long $VIX.