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Re: mx10001 post# 1115

Wednesday, 12/12/2018 11:52:35 AM

Wednesday, December 12, 2018 11:52:35 AM

Post# of 22036
Sounds like I'm a lot like you in many respects. I think a relatively small percentage of the MJ stocks will do nicely over time but I'm not smart enough to pick them so I prefer to take short-term profits over a few days to a few weeks when they're there to be had.

I too think the US-based operators are a smarter play than the overvalued Canadian stocks. Won't be long before the Canuck growers will be pumping out at least twice as much weed as the Canadian market can conceivably consume and that can't be good for their share price. The US has potentially bigger markets and companies that have smaller market caps that still have room to grow. Also like CBD more than THC at the moment thus my finally getting into Charlotte's Web after watching it on the radar screen for quite a while.

I've mostly enjoyed swing trading these stocks since we started in early September...it's not as stressful as daytrading but not nearly as boring as long-term buying and holding. Was doing pretty good up until about 3 weeks ago...was up nearly 40% but have since seen that chopped in half...partially because of bad MJ sector performance and partially due to just plain bad trading on my part. Sometimes when you swing trade you swing and miss! But even HOF hitters have bad streaks, right? We had half a dozen trades going at once in mid-October but closed 4 of them out just a day or two before the sector crashed so we survived that plunge in good shape but this recent downturn has proven to be much worse even though pot stocks didn't drop nearly as much as they did in the second half of October.

Think you're maybe being a little pessimistic about Charlotte's Web...I don't really see a huge runup in price before this Farm Bill so I don't see as big a downside if we get hit by some "sell the news" but I suppose we'll find out soon enough. Weakness in the broader markets ain't helping any...I think maybe all hell will break loose sometime in late January if not sooner. Good luck, mx.
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