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Wednesday, February 05, 2014 5:08:32 PM
1. Marijuana stocks don't rise on fundamentals because the industry is too new for revenues and profits. "Valuation is based on hype and potential," Sykes said. "The bigger the marijuana-related idea, the bigger the stock spike potential no matter if the company can actually pull it off. It's the Wild West right now."
2. Lock in profits by purchasing stocks with specific targets and exit prices. "Once you hit those targets and prices or anything close, take the profits and run," Sykes said. "Much of it isn't predictable. I myself aim for 20% to 30% gains per position in one or two days given the volatility."
3. Vanishing trading volume is an indication of media frenzy wearing off. "Ride the hype but be sure to exit when the momentum even begins to look like it might fade," said Sykes.
I MADE A LOAD HERE-
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