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Hey @nowwhat2 ,
Where's the daily chart? Don't post much but look at the charts most always.
Can you add your blue line to this same graph, just to help project a bouncing trajectory area?
I'm also a big fan of guessing the next move on the MACD line. Today and Monday may play a pivotal part of which way we'll go for the next week or so IMO.
I'm long here either way but it's fun to look.
I really enjoyed this article on the S&P. It's funny though... most all the charts and principals mimic WEED exactly...
https://www.ispyetf.com/view_article.php?slug=S%26P_500_Update_-_Know_What_to_Expect&ID=802#q2EYfakATpXVdkhE.97
I agree about both trending lines on your chart. Now is when they converge though and we decide which line to follow. I'm thinking/hoping today's earnings will give us the push to follow the line upwards.
Although you're right, we may have a miniature clonk before we go up. But I think it will be very minimal.
What part of Texas? I'm in DFW, near the airport.
What did we buy, and who did we buy it from? Also, what did we do with the 230+ million $ we got our last loan for? And didn't we have a couple hundred million in the bank before that? I'm confused as to why we'd issue shares out unless they really think this thing is going to tank.
I don't see why it would, but they know more than I. CGC is my largest holding at the moment.
Anyone know when SEED.TO will be buying their shares?
HMJR must be buying a fair amount lately. MARI took off yesterday and THCX took off today. I thought SEED.TO was going to be buying soon as well but the bigger market cap guys like Canopy haven't taken off. I'm a little excited because they'll be buying THCX as well as Canopy.
I would venture to guess that the younger crowd will continue to go with the black market while it is still there. Eventually it will fade out... eventually.
I would also venture that the middle aged and baby boomers will stick to going to the store. The folks with money will be willing to pay to be on the up and up AND have more options.
We also forget about the occasional recreation user and the folks who previously smoked but stopped for whatever reason. They may dip back in the market given the availability.
My grandpa used to tell stories about running liquor and butter when those were illegal. Eventually he stopped and went back to cooking sausage and plowing snow. I think the dealers on the black market will do about the same. As they get older they will find new ways of creating more money and go that route. The trade of drug dealing will slowly fade.
I've been waiting for the charts to get to this point for a couple of weeks. I'm really hoping the uptrend in price will overtake the downturn in price. Hopefully the earnings tomorrow are reasonable and start the uptrend.
The bad false publicity along with the "only worth $13 a share" article written by ACB aren't doing us any favors. It's a brilliant strategy by them but I fear it could drag the whole market down.
Y'all see the Aurora aftermarket today? Hopefully that will help pull things up again. I'm really hoping since we've FINALLY reached the end of the OMC head clunk map that it will follow the line upward again soon. :)
https://m.nasdaq.com/symbol/acbff/after-hours
The $ numbers look great today but the volume was rather low. I did buy some Aphria for the long to diversify some more. I'm still holding $ for if there is another drop though.
Link to the senate hearings
http://www.cpac.ca/en/direct/sen6/151635/live-senate-audio-54/
So far it just sounds like a bunch of folks wanting to make edibles legal sooner.
What do the charts say today? Have some $$$ available but trying to decide if we're actually going up or if we're in another dead cat bounce
I'm really hoping we didn't just stall out here.
MACD line spells trouble for a bit though. I'm starting to think we'll sink below the red dotted lines before running up past them again.
Aurora is due for a big dip in my opinion. The sector is dipping pretty hard currently and the hype of the new deal is keeping Aurora afloat somewhat. The problem is, Aurora paid entirely too much for the new deal.
The Aurora hype has gotten to extreme levels. Eventually things will have to level off as Aurora can't continue to buy at the pace it currently is.
I do think we will be successful eventually, just not in the short or even mid term. I'd go for extreme short or extreme long gains here... not anything in the middle.
Who has level 2 chart for tomorrow? Maybe we need a bit for after hours to build first?
Way more sellers than there are buyers at this moment:
https://ih.advfn.com/stock-market/TSX/WEED/trades
I guess I'll have to wait a few months and play out your green line. Love the charts BTW!
I'd buy before close today at market value if you still have money. (I bought earlier)
There will be support at $25 USD and at $30 Canadian. I don't see it going below those levels. But I'm just some guy.
That chart is scary short term but very promising long term, lolol. I'll hold it for 10 years at that rate.
Looks like a bunch of stop losses are going off now/soon
Think this will continue through tomorrow and then finally hit a bull again on Monday?
I'm about 50% into Canopy currently. VFFIF, Ianthus, and MARI are all on the rise though, so lucky for me there's that. I'm still quite a bit down on the day though. Bought more Canopy at $26.95 USD. I'm still thinking we'll hit $30+ again within a couple weeks.
Lots of buying and selling lately - Thousands of shares at a time.
https://ih.advfn.com/stock-market/TSX/WEED/trades
I really think it'll stall a bit higher than it is now. If it bounces lower, I don't see it going lower than the last 2 bounces.
If it does go lower, I think it will bottom out around $25.75 USD, but I don't think it will.
When it stalls, I'm betting it'll stall in the $28.50 USD range.
Everyone seems to have a differing opinion of when in February it will rise again. The good thing is, everyone seems to agree that it will sometime early to middle February.
Also, the US news has not covered Canadian legalization at ALL. Once they do I imagine we'll see some crazyness. Everyone down here tends to hide from the subject.
Green Hemp Industrie Ltd Aquisition - This is Great News for us!!:
https://ih.advfn.com/p.php?pid=nmona&article=76552370
"By diversifying its operations to include hemp harvesting and extraction, the Company will be investing in an innovative new agricultural sector and creating jobs for Saskatchewanians. The field operations alone are ready to scale from 600 acres in 2018 to 2,500 acres in 2019. To support this growth, custom built extraction infrastructure will be installed at Canopy's Tweed Grasslands facility."
As quickly as the USD is going down right, all Canada has to do is hold steady and the ratio will go back up.
But in judging the charts, Canada seems to be losing their currency faster than the US is losing theirs.
After some thought, I think if it does hit about $27.25 USD I'll buy another hundred or two. So here's to hoping =D
I wouldn't wait until 25 USD. Best case for you I think I'd see a bounce at 26.50. Honestly I don't see it going below 27 USD again... but time will tell
More buys than sells at the open tomorrow as of now:
https://ih.advfn.com/stock-market/TSX/VFF/trades
I personally don't see Canopy buying Mari to get double licenses. If they didn't have one already I could see it then, but there's no need for 2. If the Italy deal goes through for Mari, that could open up a case but I still doubt it.
I think canopy is big enough to get their own deals. If they buy, I think they'll buy for increased growing square footage, sales distribution centers, or advanced robotics and or extraction technology. The other thing they could do is advance the technology in the 4+ million square feet of growing houses they have now. Maybe all of the above?
Anyone keep tabs on how fat of a cash wad we have? I know it's several hundred millions... I lost track of how many though
Am I right: So I know we recently stumbled into another 200+ million dollars. I'm thinking the shares given are what is causing us to stall for a bit while the rest of the market is gaining? I'm also assuming that when we spend some of those bankrolls that keep adding up, we'll about explode again? I know we're sitting on a fat wad of cash currently.
Opinions?
I've been waiting on my $6.55 USD limit order to fill all day. I should have added another penny it seems.
Expecting great things here :D
I see NewsStrike said "Yes" to the CanniMed over. Is that our news? I didn't even think that mattered.
In studying the charts and the pending news I really believe that a buying opportunity will present itself by Monday. I'm holding my $$$ tight right now and looking for my re-entry point.
Sold the few hundred I bought at $10.80 today for $10.03 USD. If it goes down, I'll double down. I plan to get my other few hundred either way. Hopefully I can catch a big dip between now and Thursday. If I see one, I'll spend what I have to spend.
Volume was 9.9 million today. Couldn't make it to 10.
I officially ran out of money. I can't buy anymore. :(
I bought 40 TWMJF and 50 more ACBFF today to hold long. Every little bit adds up I guess.