Imagine if you could go back in time and invest in liquor, bottles, caps, distribution, etc right before prohibition was lifted?.. MJ is one of, if not THE fastest growing sector next to Tech and its only going to get crazier as we near 2018, when the largest state (Cali) + MJ epicenter becomes legal for recreational use... Then other states will soon follow, creating a snowball effect of wealth creation... If you are stuck in some crap penny stocks, its time to get out and/or scrounge up what you can and put that $$$ to work where you have the best ODDS. The longer you wait, the more you will regret it in the future...
The only thing that can derail this train is the Federal Government (low probability imo), so thats an important aspect to study as well.
The best way to start learning about this sector, is to immerse yourself into the discussion on a few boards... Try to find like 3-4 plays that you feel have the best odds long term and focus on the DD there for a few weeks, until you really know the DD/story.
But while doing that, dig through news, websites like IHUB, etc looking for new hot tickers/stories (links below)... If you find one that looks better than one of the tickers you have in your "core", focus on that one for awhile and less on the other. Eventually you will move through several stocks and know quite a bit about them and the MJ sector in general.... and just because you are doing research, does not mean you have to own it. Dont sell yourself on WEAK unsupported DD/claims, KNOW what you are buying. Trust no one, demand proof and/or be skeptical... MOST are these plays are going to be long term losers (the best MJ companies are private), but this does not mean you cannot make money on them. Just dont fall in love, unless you are skilled and have VERY good reasons to... oh and NEVER recommend penny stocks to family and close friends, UNLESS they know the "game" and can accept that they could lose it ALL. Too many relationships have been destroyed because of penny stock recommendations. Heed my words noobies, ive got 20+ years worth of stories to tell. No one likes losing money and when they do, they often look to others to blame.
I have a handful of MJ plays that i like, but many of them are expensive right now and/or are having some issues. So no matter how much you like a play, be cautious of overpaying. MOST are extremely overvalued, currently..
Stocks rarely ever go straight up, so when entering a stock, never go ALL IN on the first buy. Mentally set a target amount you are willing to risk, then only buy 1/3 to half that amount on the first buy. Then add if it drops further... If you ALWAYS expect that it might drop right after you buy, you will increase your odds in the penny market significantly. When stocks look the purtiest, they are often the most expensive, especially to noobies that dont know how to properly analyze valuations, which is VERY important. A large portion of the $$$ flowing into these tickers is not very market savvy... “Be fearful when others are greedy, be greedy when others are fearful”
Also, when you hit a big winner, SCALE SOME OUT ON THE WAY UP. Lock in some gains! Be victorious! Dont be this guy... lol...
Nothing feels worse than hitting a big one and riding it back down. You dont need to buy the very bottom and sell the very top to make $$$.... If you sell some, you ALSO have $$$ to go find another hot runner (there are many in the MJ sector). Never be afraid of profits, even if you love a stock, set your first goal towards having a FREE position...
Heres a nice list on IHUB for the top 50 most posted MJ plays... FYI, not all of the MJ stocks release news through IHUB Newswire, so this list wont give you all the news in the sector. Its also limited to just the top 50 most posted. Often, the best buys are the least followed stocks (not overbought).... http://investorshub.advfn.com/cannabis-stocks/
Heres another site/blog that has a (limited/delayed) list of MJ plays, along the $$$ (dollar volume) they are trading, which is good DD. $$$ moves the markets... http://www.thedailydab.com/
Heres a nice list, with business descriptions. Makes it easy to browse through a bunch (most are crap) and learn whats out there. Not all MJ stocks are on this list. Theres lots of new tickers popping up every day and the newer/undiscovered ones are often the best gainers (not overbought/overhyped yet)... http://www.investorideas.com/news/2017/marijuana/02011StockDirectory.asp Heres my watchlist, sorted by percentage gain at the close on Friday... When looking at percentage gains, dont get fooled by low dollar volume triple zero crap, huge spread, etc... If you find one that i need to add, let me know. Feel free to send me KEY DD on a play if you discover something. Dont just send me a link of some nobody claiming a 1000% gain, back it up with some substance...
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