Cannabis Outlook
Things get murkier from here. We have three things going on. Canada and their global reach, U.S., and CBD. Seasonally the best months are ahead for cannabis. WolfofWeedStreet has been pretty good at forecast, and he thinks cannabis tops in December/January. Personally, I'm not so sure about that.
U.S. market will be tricky. It'll be an amazing bull market if it goes legal by state, or obviously Federal. Best guess is we get States Act protecting the States sometime early next year, along with banking. It won't be easy legislatively to play the market, and we'll so how it is anticipated. Likely whipsaws.
CBD I believe has major legs. I like CWBHF and ELLXF the most, but CVSI would be my favorite if it wasn't for their listing predicament. FRLF is also right up here with favorites.
Biotech will have some big breakthroughs too. GWPH is #1 with patents and research. IMLFF and CRPB might be a tier 2, and then the rest. TBPMF comes to mind and I'm leaving a few out.
How that transition to possibly the U.S., dominant global Canadian players, efficient Canadian LPs and periphery businesses, and CBD is hard to map out.
All in all, while I believe cannabis is a bull market to be played for 5-10 years, I think a lot of easy money has been made and could crater from time-to-time. I believe in playing things much closer to the vest until a clearer picture emerges. Where cannabis fluctuates between 5-50% of my portfolio, averaging around 30% over the last year, I believe I"m likely to fluctuate between 5-20% for at least a few weeks. Shorter hold times, cutting losses quicker, and smaller positions.
Stocks I have a hard time parting with are(I'll leave some out I'm sure) CWBHF, ELLXF, VFFIF, PLNHF (for another week or two) and GWPH. Others I keep real close are going to be PYX, FRLF(have very small LT position now), TCNNF, PHVAF, ITHUF, CNTTF, GTBIF, GRWG, KSHB, IMLFF, LHSIF, and a new IPO, Harvest.
Good luck everyone, be careful.
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