Money Runners

[nopancakemix]

ENTIRE MJ SECTOR ENTERING GOLDEN CROSS
I don't think I can stress the significance of this bullish occurrence but I will try below. This is the first time since 1999 that I have seen all the major players in a single sector approach such a milestone!

For those who do not know what a Golden Cross is, it is when the 50 day moving average crosses above the 200 day moving average. The Golden Cross is by far the premiere technical indicator for bullish activity, far more accurate that any other pattern. Typically technical traders and analysts will use the Simple Moving Averages or SMAs for observing a Golden Cross on the charts, however I prefer to use the Exponential Moving Averages (EMAs) because they often precede the SMAs in forming the cross.

So now that it has been established the Golden Cross is a significant bullish indicator, how does it relate to the MJ sector?
WELL…….
Pretty much every single MJ stock has formed or is in the process of forming a Golden Cross. One more time…..EVERY SINGLE MJ STOCK I AM HOLDING from MJNA to ERBB to CBIS to SKTO and a few others are in Golden Cross territory. In 2 decades of professional and personal market involvement, I have only ONCE seen an entire sector in this bullish position and that was in 1999 with tech stocks.

I don't think we have even begun to see the gains that are coming to this sector. Just like in 1999, there will be winners and duds. Millions will be lost and even more will be gained. But this exuberance is NOT irrational as it was in 1999. The big difference being that in 1999 nobody really knew what sort of demand there would be for tech/internet services because the industry was brand new. HOWEVER the cannabis market is NOT NEW. It has been around for thousands of years. The demand IS ALREADY THERE. In fact, the demand is so great that for the past 80 years in the USA, people are willing to risk jail time and even death to consume, cultivate and distribute cannabis. THE DEMAND FOR CANNABIS IS THERE AND FOR THE FIRST TIME EVER WE CAN LEGALLY PROFIT FROM IT!!!!!!

Amazing folks. Simply amazing stuff.