A bit of food for thought after these past few days with MJNA. I apologize in advance for the lengthy post. I figure most will take one look at it and not even read it. I don't always post on iHub, but when I do... I write nothing short of an article...
All in all, I would say the excitement is over, for now... At least until the next round of good news/progress. To wipe our brows and take assessment after the dust settles, we are in astonishingly much better shape than when we started last week. It's easy to get caught up in a run like this, the "edge of your seat" excitement, watching your portfolio climb by leaps and bounds. All of this on a ticker that had gotten pushed aside in lieu of more exciting ones after months of boring sideways trading. Especially when it closes strong to finish out the week and you have an entire weekend to dream of how amazing next week will be and what kind of cabinets you will put in your yacht. Then your heart has sunk by midway through the next week as the PPS pulls back. You succumb to your hindsight about not taking profits. You focus on all of the bad but forget to take a second and look at the last week and a half as a whole and see what the real picture is.
If you sold Monday and got back in today, I say to you well played, that shows a keen sense of how these scenarios normally play out coupled with an equally keen sense of timing. Along with some emotional discipline thrown in for good measure. If you sold Monday and got back in today, this post isn't for you.
This is for those who are riding that emotional roller coaster back down after the oh so fun climb, as a reminder to see things on a much bigger scale than day to day, hour to hour, or minute to minute. What I see is what appears to be a new, solid base forming in the .045-.048 range, a full 25-35% higher than before. Along with a few million added to the daily volume and most likely quite a few new eyes turned this way watching and waiting for a good sign/time to enter.
Questioning and second guessing one's past decisions and actions serves absolutely no purpose but only to dissolve one's confidence in themselves and negatively effect future decisions. A good example would be how easy it is to overlook where MJNA is at now compared to two weeks ago because someone is dwelling on how much money they missed out on by not selling on Monday.
Now, the stock market is by no means as predictable as some would have you believe and that unpredictability is amplified 10 fold in the OTC market. The best anybody can do is use experience, research, planning, and discipline to their advantage. The market may be unpredictable but that does not make it un-patternable... Sometimes a bit of luck and a whole hell of a lot of prayer doesn't hurt either... I am not saying I know for sure what is going to happen with MJNA but there are a lot of good signs saying we have found a new higher low to base at for whatever lies ahead and when that new base is at least 25% that of the old one, that is very good progress.
Tomorrow's trading will be the all important tell. These past two days we have closed above the low of the day which is good. We seem to have somewhat of a support between .045 and .048 that I am sure will be tested, and hopefully strengthened, tomorrow. Obviously a green close would be good tomorrow but trading sideways and even a red close above .045 would both be signs of strength IMO.
Welp, I'll stop now. A lot longer than I had planned but that's usually what happens. Sometimes I just like to throw my thoughts out there whether or not anyone cares to read them. Just figured I'd point out the good things that I think has happened to MJNA in the last week or so.
