InvestorsHub Logo
Followers 8
Posts 244
Boards Moderated 0
Alias Born 02/19/2013

Re: Chief Slapaho post# 8343

Monday, 01/13/2014 7:40:54 PM

Monday, January 13, 2014 7:40:54 PM

Post# of 51845
I think many bought in the $.80 - $1.00 range and may not have taken profit towards $1.20. Most that bought below $.80 probably took profit towards $1.20. So, we may not see much selling resistance until we approach $.60 - .80.

I think we will hit $0.60-.80 Tues/Wed and may test $1 by Thursday and perhaps take another break before the 3rd rebound towards $1.50+.

Keep in mind that the entire pot sector was green today with many with 20-40% gains. I anticipate strong buying pressure into pot stocks this week especially in light of Dow/Nasdaq dropping like a rock that may force many to sell their positions. You never know, after selling their stock positions, they may dabble in pot OTC/pinksheet stocks (probably one of few sectors with spiking "GREEN" gains today) while waiting for the market to finish the anticipated correction.

IMHO.