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We'll be in this bear trend until the fall at least.
I thought the same. The entire market is in this bearish accumulation trend.
I think we're virtually guaranteed to be here until September 30, because that's when the new farm bill will take effect, and Canada's law goes into effect 2 weeks later.
Colorado Leads Country in Hemp Production, a Growing Field
http://www.westword.com/marijuana/colorado-leads-country-in-hemp-production-hemp-vote-says-9648009
That article is several months old, but it's still pretty true. Colorado is a major player in Hemp right now, so it's awesome Bennett is on the Agriculture Committee and is supporting the Hemp bill to such a degree.
Seems a little redundant since the Hemp Bill will fully legalize, meaning banks aren't at risk in the first place.
I'm drinking some delicious Avery beer, which is my usual sit back and wait strategy.
Then drinking delicious beer becomes my celebratory strategy when the rushes happen.
Senate votes for cloture, 89-3. Mitch McConnell and John Cornyn are confident it'll pass this week
Mitch McConnell filed for a Cloture vote, which will happen this evening. I expect the Senate will vote in favor fairly easily, then McConnell will be free to schedule a floor vote. I agree with Sleek that it'll likely be Wednesday or Thursday
Two days earlier than expected, too! Awesome stuff
Best I can find on the Senate Farm Bill Cloture vote is, "this evening." So at least we know its scheduled for today.
Definitely.
The Farm Bill has strong support in the Senate, and I have little doubt it'll pass. With the Committee vote being 20-1, we know they've overcome those hurdles that the House bill insisted on having.
Debbie Stabenow, the ranking member of the committe, a Democrat, joked it should only take a couple of hours to pass the Farm Bill after Mitch McConnell said he wanted it to come to the floor quickly. The 2014 Farm Bill took only 2 days. Floor debates happened last week, with Chuck Grassley and one other person (I can't recall), so the Cloture vote on Monday should go over smoothly.
The hangup will be when this thing goes to conference, how the House and Senate versions will be reconciled. I'm not terribly experienced in this particular aspect of government work, so I'll just have to wait and see. I expect the highly supported Senate version will carry a ton of weight vs the barely passed by 2 votes House version.
Mitch McConnell filed for Cloture on the Farm Bill with Hemp Attached. The Senate website for the Democrats says they expect it to be taken up on Monday.
Awwwwwww yeah!!
Pretty interesting surge right there at the end
Floor debates for US Farm bill with hemp attached are this week. In 2014, the farm bill took 2 days to pass. The big support this had in the Ag committee is good news for us.
Also, the Canadian MJ bill has passed the House of Commons and the Senate's second vote.
Next week The FDA will rule on Epidiolex, and the week after that, Massachusetts begins recreational sales
Senate Agriculture Committee approved the Farm bill with Hemp bill attached in a 20-1 vote.
Mitch McConnell says he wants the bill to hit the Senate floor before the July 4 recess.
This will be the first time we have a major legal action for the hemp subsector specifically, so we'll see how the overall market reacts. Historically, the market hasnt cared about the difference between hemp, and MJ, and everything more or less runs together.
It's also worth noting that 38+ states now have legal hemp, and the market really didn't care about any of that. The difference with this is its introducing a whole new agricultural commodity to the country all at once. Banking will be available as well as interstate commerce and crop insurance for farmers.
That's from a few days ago. The Canadian Senate passed the MJ bill, now it has to pass the House of Commons
Canadian Senate passed the legalization bill tonight. It was sent to the house of commons.
Pretty fun day! I didn't expect this on a random Wednesday in June.
He's in a weak Republican district. Something like R+4 or R+5. There's a good chance he's out on his rear end after the mid terms. For reference, Conor Lamb won an R+14 district in PA... a district that carried Trump by 20 points.
He doesn't understand the market right now or why prices might be what they are. He thinks elevated prices are a "scam" because he doesn't comprehend the ins and outs of trading.
Except it isn't a scam, and your reasons for believing so are weak and not supported by reality
Pumping and tunnel vision. You dont really understand how trading volatile stocks work, which is why your posts are so funny to everyone. Rather than make money, you sit on the sidelines and say a bunch of things, none of which make any sense. As I mentioned before, you've chosen a bizarre way to spend your free time. Hang out on boards which you dont trade, make it up as you go along, etc. Me, I post on the boards I trade about the trading I do. You're an interesting character for sure.
Yes and your continued fascination keeps us all entertained. What's interesting to me is you're not on the boards for stocks that legitimately are scams. There's a Canadian stock that had no licenses, and was absolutely a scam. Never seen you in there. Why is that? Did you throw a dart and ended up here that way?
Excellent stuff. Another obstructionist Republican bites the dust
I'm with you on this. In order for us to see the explosiveness we want, we need the hype train at full steam. Hemp will be legal soon by act of Congress. Theres few things that'll generate more hype than that.
Your continued fascination with this stock, while not trading it, remains an odd mix. I mean, when I have free time on my hands, I'm not spending it on forums of stocks I don't care for. I might spend it with a good book, a cigar, a beer, friends. But not you. You'd rather make it up as you go along on a stock you don't care for, don't trade, and know nothing about.
Keep on keepin on, as they say.
Exactly. He doesn't know what a scam is, and his reasoning for CANN here is weak at best
Pete is in an R+4 District, so theres a very good chance he loses. Conor Lamb won that R+14 district in PA, and Paul Ryan chose to retire instead of trying to defend his seat in an R+5. Petey is definitely on the short list of those to take down.
Ol Jeff Sessions himself today had some positive things to say about Medical MJ.
https://www.marijuanamoment.net/sessions-admits-there-may-well-be-some-benefits-from-medical-marijuana/
The Republicans are looking to stop the bleeding in the mid terms. A Republican strategist recently predicted they'll lose 50 seats in the house. They figure this is a good way to snatch up independents and millennials. So look for their narrative to continue to change, look for the FDA to approve Epidiolex, then right around near the mid terms, they'll reschedule, decriminalize, or both.
This doesn't even get into any of the hemp related stuff. 38 states in the last few years have legalized hemp. Mitch McConnell's bill will be a major deal, allowing the entire industry to take off immediately.
As the view of MJ continues to get positive, so too will the sector.
The last few PPs they've done have also not been well timed or well priced, and yet we still shot up to $11, up to the high 5s, etc. When the sector is in full rush mode, no one cares about the particular details, and money just flows everywhere. If the warrants hurt us, it'll be short lived, as it seems the sector is starting to reawaken after the Sessions induced down period.
The whole sector should. We're entering a very exciting time. Who knows, maybe we'll all get to look back and remember that time we all got in first.
Based on what? Support your position and cite specific examples. Dont just say, "look at the chart"
FDA Advisory committee votes 13-0 in favor of Epidiolex.
There's a VERY high likelihood it'll receive final approval in late June. A unanimous vote here is really good news for the sector and the entire re-scheduling/decriminalizing/legalizing movement.
Apparently theres a live stream of the meeting. I've been unable to find a working link though.
As I understand it, the meeting itself runs from 8am to 12:30pm New Hampshire time.
FDA advisory board is meeting today, and there'll be an announcement about their decision on Epidiolex. The hard decision date is still in June, but if they advise approval now, it's highly likely that June will go our way. The leaning from the FDA was already positive, and GW Pharmaceuticals' stock was up 10% on that.
While CANN is not a medical company, the US Government finally having to admit that MJ no longer meets the criteria for schedule 1 listing would be pretty big for the whole sector. Approval from the advisory committee coming right now on the back of the recent Gardner/Trump and Boehner news would be very very good indeed.
Not a bad day here! I was hoping for a dash at the end there, but +10% while a bunch in the sector were red is a finish I'll always take.
Tomorrow the FDA advisory board meets. If they give Epidiolex the thumbs up, it's highly likely that it'll be approved in June. While CANN is not a medical company, stuff like that is good for the sector, which is good for us
Fantastic volume to support it.
Theres too much positive stuff on the horizon to keep us down indefinitely. Whatever the rest of the week brings us, the rest of the year has some big stuff in store for us.
If it wasn't the whole sector, I'd be more concerned. CANN rose from $2 to $5.70 in just a couple days, while the others had far less aggressive climbs. In 2014, remember when we dropped from $10 to $6, or $22 to $13?
Sometimes this is just what's in the cards. Trigger a few stop losses, get enough people to quit,theres a lot of cheap shares to vacuum up.
I'm also on Ameritrade and never use the news button. But if you Google Cannabis and use that news button, it's all positive. Theres no way we're done running... stuff is getting big.
Having sold some at 5.50, I'll pick some up if we come down a bit more.
This kind of volatility is nothing. In 2014 we saw multiple dollar swings routinely. Up, down, lots of money to be made here
Whole sector is down currently.
On the back of promising news. FDA seems positive on MJ Epilepsy medication, Mitch McConnell fast tracked the hemp bill, and Garner/Rohrabacher are crafting MJ protection legislation.
This seems like a profit taking and dash for cheaper shares to me.
I sold some at the 5.50 mark, as that's always my start selling price. If we drop down more than this I may pick up some, but it's not likely.