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Re: fung_derf post# 344

Wednesday, 03/20/2024 10:51:19 AM

Wednesday, March 20, 2024 10:51:19 AM

Post# of 384
Derf, The SMG chart looks tempting, though the cannabis connection has me spooked. SMG's chart setup looks classic for a breakout up to 80. But beyond that is tough to say, and probably relies upon the Hawthorne spinoff, broader cannabis sector direction, etc.

With HSY, the 200 MA (205) is key resistance, but I'm looking at it as a patient long term buy/hold. Looks like the cocoa prices may have peaked and are coming back down. Cocoa more than tripled over the last year, so that was a big part of what tanked the stock.

With GNRC, I decided to exit for now (all 3 shares, lol). It's been basing for over a year, but I'm thinking there might be one more test of support at 100, but just a guess. Fwiw, I also decided to exit the solar plays for now (ENPH, FSLR), figuring it might still be early for that sector. The broader ETFs like TAN, ICLN, QCLN may still need to form a better bottom.

You're right about my having too many stocks. With buy / hold stocks it's no problem, but with these turnaround plays it's too many to follow.

Btw, I picked up a little RMD as a LT buy / hold, figuring it is returning to its long term trajectory.



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