The cannabis index

[Caseynotes]

5 minutes ago, dmedin said:

I've heard that weed products in California are super high quality but very expensive. 

I'm still not sure what the actual products are. Is it just recreational use or are there pain relief/symptom relieving health type products?

[dmedin]

3 minutes ago, Caseynotes said:

I'm still not sure what the actual products are. Is it just recreational use or are there pain relief/symptom relieving health type products?

CBD oil is apparently very good for joint pain, anxiety.  But a single bottle is almost $100 I think.

Said to be good for insomnia too.  And they have 'vape' like products for cannabis.

Lots of potential for a healthy market there ...

Edited October 18, 2019 by dmedin

[dmedin]

Surely the only way is up from here ...

[Caseynotes]

The stocks in the multi-chart above are amongst the more heavily weighted on the index and it they are going to turn at key support we should see it happening here. Looks a nice ride down on the HA chart.

 

[dmedin]

A difficult one to know how to trade as there are so many unfilled gaps.  Would never have thought the entire industry would shed so much value and be worth less than it was a year ago.

[Caseynotes]

8 minutes ago, dmedin said:

A difficult one to know how to trade as there are so many unfilled gaps.  Would never have thought the entire industry would shed so much value and be worth less than it was a year ago.

It will be clear enough on the chart, if they have all gone over sold and price first reverses here and then breaks up past the trend line.

[BigDeal]

I guess the cannabis index should be 'high' all the time really...

[dmedin]

Anybody fancy going long on this dead duck?

 

 

83% of IG client accounts with open positions in this market expect the price to rise

JFC ... 🤪

[247trader]

1 hour ago, dmedin said:

83% of IG client accounts with open positions in this market expect the price to rise

JFC ... 🤪

have you been shorting this market?

[dmedin]

16 minutes ago, 247trader said:

have you been shorting this market?

Nope ... I just couldn't believe that it would keep falling so much.  lol.  I've been long on it twice and lost money both times.

[DSchenk]

Check this out:

https://www.forbes.com/sites/stephenmcbride1/2019/10/21/aurora-cannabis-is-dumping-its-pot-which-may-be-a-sign-its-all-over/#5298dc955775

Seems like the end is nigh

[Guest phil]

On ‎22‎/‎10‎/‎2019 at 17:35, dmedin said:

Nope ... I just couldn't believe that it would keep falling so much.  lol.  I've been long on it twice and lost money both times.

probably should have put your money where your mouth is

Looks like key stocks are facing risks with concerns about limited growth potential amid regulatory pressures on the industry. Investors are trying to decide if it’s time to mellow on the sector. Expectations for the upcoming earnings season are bleak after Hexo lowered its revenue guidance alongside lower estimates from several other marijuana companies because of significant operating losses. 

[dmedin]

58 minutes ago, Guest phil said:

probably should have put your money where your mouth is

'I would have been fine if I had just believed my charts' lol! 

 

[dmedin]

Keep selling the rallies - till there's nothing left? 

[dmedin]

Apropos, this is a little gem.

https://www.ig.com/uk/trading-strategies/how-to-profit-from-downward-markets-and-falling-prices-191016

[dmedin]

A wee tweezers bottom, and the slope of the MAs straightening out.  😺

[dmedin]

Zut alors 😺

Quote

On October 26, DW reported that Angela Merkel’s party may be contemplating a move to legalize cannabis in Germany.

https://articles2.marketrealist.com/2019/10/could-angela-merkel-legalize-cannabis-in-germany/

https://finance.yahoo.com/news/3-cannabis-stock-strongly-benefit-202217615.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAKx7KjCurAL59JYw8FjgfV8yzM9cvJLxktzqMPLNUzG35d0Duo7Gu0_rrvvcD_jhO2L8kPoCWdwYXWe8T6oVtZptsVy6fc7pPFx2yzawqQz0TUK4gpID0dy1_HlYIYganFP679y_cMypt8AoZxhTP7EhOb1YoQSLD3INQZUlAEwO

[Caseynotes]

22 hours ago, dmedin said:

A wee tweezers bottom, and the slope of the MAs straightening out.  😺

I wouldn't worry too much about your tweezers or your MAs, stick to basic chart structure when looking for a break, so not yet. How low can it go?

 

[dmedin]

6 hours ago, Caseynotes said:

I wouldn't worry too much about your tweezers or your MAs, stick to basic chart structure when looking for a break, so not yet. How low can it go?

I was grasping at straws

 

[dmedin]

🤪

83% of IG client accounts with open positions in this market expect the price to rise

 

[dmedin]

I've got skin in the game now, gone short and looking for that drop down to 100% level - because why not

 

[dmedin]

If this carries on I will have to close out and go long instead

[dmedin]

The 'uptrend' in momentum has been broken

[dmedin]

I quit my trade while I was still in small profit.  Once again, I got in far too late - ending up with the sloppy leftovers.  Disgusting fat pig

[dmedin]

Went in short again because why not?

[dmedin]

****ing hell ...

[dmedin]

🙊

[Caseynotes]

still short?

[dmedin]

1 hour ago, Caseynotes said:

still short?

Oh yes

 

[dmedin]

Well, it has hit the bottom and started climbing back.