MARK THIS POST!!!!!!!
Ok.... So just taking a step back and trying to be objective I think I see a common pattern forming in general. This is purely a TA( technical analysis) call so it is completely objective and the pattern I am applying does not discriminate on any stock, it either holds the pattern or fails....not biased at all. I BELIEVE the MJ sector (in general) is following a MAJOR reversal pattern that has reversed 3 days ago.
So try and follow me here. The first major leg up occurred in most of these stocks starting in January. So draw a line from the lows of those days and I found many stocks that "COINCIDENTLY" have hit that line of support in the last few days (MINE included). What most considered a BEAR market in these stocks will turn out to just be consolidation IF this line holds and these stocks in general get a major move on this next leg up especially if old highs are broken. For an example, take a look at FON* ..r just to see how powerful this pattern can be. 3year chart.
Draw a line...Oct '11 low to the March '12 low....to the Sept. '13 low ...then BOOM. Now do the same for MINE or any stock you want and you will see this pattern either have a MAJOR move from here, or some stocks will have not held this line and fail.
So, in conclusion I don't think it's just coincidence that many stocks in this sector are following this pattern and IMO I think this could be the beginning of a major reversal/rally for the next month or so. Again not ALL stocks here will comply....it MUST hold AND bounce WITH volume off the lows trend line I described earlier.
I guess we will see by the end of June if MInE conforms to this pattern/upcoming move. IFFF it does we can expect to break old highs. I have a large position here, so I will probably just screen for other stocks that follow the pattern and load up for the hopeful upcoming potential move. IF I am right this could be a very happy 4th July this year. gL and remember don't risk money you are not willing to lose....
AI
