Appreciate the response.
That's why I hedged with "...look for it to heat up going into rec legalization". We're certainly not done for good. But some of these caps are still completely out of line. IOW, going down more.
Especially the ones that are flimsy to start with and I've agreed with John all the way when he says the bigger more established ones will weather the pull back the best.
In depth chart technicals aside... when you backout to a 6 month view even, and you see companies that aren't doing anything more than they ever did but they're now still up 10 bags from where they were in Sept.... they won't hold, at least not most of them.
OK, so we have a lot of good stuff to come with some of these. What I see happening next is that the REAL ones that actually are increasing their revenues, positioning for more profits, acquiring little winners, making real moves ahead of rec legalization, etc. are going to hold up better through the bobble pop periods and recover faster after retractions.
Up to this point, if it was weed it went up. Maybe from here on out the market will be more selective than that.
I've rode a few these of these bubbles over the years. This is different than the '14 weed bubble because the companies are more mature and have a couple years of real numbers to look at. That will help them hold up.
Everyone has to do it their own way. I still have some NXTTF. I've dumped it at even and bought it back in the dip 3 times now trying to keep in pace with what the market says it's worth.
To keep a perspective, I suggest folks look at all these companies on the 5 year chart, just as a reminder of what bubble pop looks like.
Anyway, enough doom and gloom. I'm just not drinking the kool aid right now, and not going along with kool aid drinkin talk. I know, it's a drag to be the only sober person in the room. lol
I think we have more golden days ahead IF we chose the real winners. I'm just saying that we could be in for a lot more down before then. AND not all them will be automatic sector winners like it's been up to this point.
Now lets get on with these contests before I scare everyone back to T-Bills !
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