Different elements at play this time I believe though. As a drop to at least the 50dma was expected especially since the volume was on the sell side even though it had been low the last week. After a breach of that I was expecting a 15-20% drop from there(to the lower bolley) and picked back up some of my shares at .0055.(was 95% of my portfolio to start the week but knew this was coming and averaged out above .0072 on the sell side.) Anyways point being, last time we had a two week dry spell and continued declines, was right after the dtc chill got unlocked. That was after the run up from early January which was a nice 350% gain. We had hit the upper range of the bands and every time that happens in almost every stock in this sector we see a reverse. The decline is usually about 60% of the total increase or sometimes just the retest of the breakout point. Well what I've noticed with all these guys is the higher highs and the lower lows, so on the 6.5x run from .0027 on jan 29th to the peak of .0186 I would of expected at least a 70% decline. As this is the reason a bunch of people choose this sector, 30% either way in a after noon is a normal thing. Oh yeah since all the reoccurring seem to play out in repeat as we go but stronger, I'd say the break through the 50dma the test of the lower band and a bounce of the initial breakout point of the.005 range plus good volume and strong buys today. I think a even keel uptrend will now be in place.
Think also the A/G, if we would of gotten good news from him we would of blasted up! So how I see it only bad news from that side of capitol hill is going to be real negative. Though things could stagnate for a while, come the cup time in colorado next month. Things will be here to stay, as I feel the revenue just from that event alone is going to open minds!!!! And that's why we are even going this route as a nation right, I'm not going to be fooled and say it's purely by voter choice. As if we weren't so indebted as a nation and the government didnt need to subsidize so much funds and jobs(feds employment policy) we would probably never be going this route.
But as this is here to stay, and they are close to breaking down. I've put all my eggs in a basket! Not this one stock in particular, but this entire sector! As herbal culture is the future, and a welcomed change if I might add. Careful is still the name of the game though as this sector is young still. But man I'm a oregon native of 15years, and if even half the nation was like the nw all these guys would be big players. Anyways GLTU, take care, and here is a quote to leave y'all with!
"Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one's ideas, to take a calculated risk - and to act."
Andre Malraux
