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Wednesday, January 08, 2014 2:05:16 AM
I made my money today. I was planning to wait until Q2 2014 before offloading shares for losses but the past few days brought a good exit for me if you read my holdings disclosed here in November. I sold less than 50% today but it paid for the remaining house shares in my portfolio and let me with some liquidity to work or play with.
Tomorrow I expect a pop then sell off or a slight sell off across the board. Most MMJ stocks are up 30-500% since Jan 1 so it could get pretty bumpy here. Of course, I think .02 is entirely possible. Even at 600m shares traded today, at an average of .0065pps, that's still less than $4m in total activity. My guess is a small fund is sniffing around and buying some shares. I have some unconfirmed rumors of individuals buying on behalf of institutions and other rumors but fact remains, there is accumulation going on here. The frenzy is 1999 like where people are just throwing cash around just to have a stake in the game.
2014 highlights could include:
PR any day from a company disclosing revenues from THC based products, MJNA and ERBB are both in the Colorado scene.
Q1 numbers from recreational/medical sales show effects of hype
Q3-4 mid term election cycle - MJ could be a big issue, more recreational legal states like CA
For ERBB:
Dispensary/sales news, RFID machines.....who knows where this little gem lands but it sure added a shine to my MJ Mega Fund.
Bro, I'd be in ERBB at under .01 and have seen these stocks rip a few hundo % in less than 2 trading sessions. I may sell a little more at .10 if we get there but that's a $250m+ market cap so I'm not holding my breath. However, if the Altitude Organix Network vending machine is legit $1-10b as in billion is possible, or .50-75pps for ERBB. Pie in the sky but fun to imagine
"Emancipate youself from mental slavery, none but ourselves can free our mind"
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