The cannabis index

[dmedin]

Wonder where this will go 🤔  You see I cashed out already.  But I'm ready to go back in when the time is right, Matilda. 

 

[Caseynotes]

14 hours ago, dmedin said:

Wonder where this will go 🤔  You see I cashed out already.  But I'm ready to go back in when the time is right, Matilda. 

at the first sign of resistance, buy and hold not as easy as it sounds then? 🧐

[dmedin]

16 minutes ago, Caseynotes said:

at the first sign of resistance, buy and hold not as easy as it sounds then? 🧐

Lol no not in this case

[dmedin]

So I bid adieu to the cannabis index, it looks like it will be moving sideways for a long time now.  I really missed out on a chance to short it but who is enthusiastic to break into a new index tracker by short-selling it?  Vast majority of people are buyers in an exciting new market and want the price to rise.  And they all got sh@fted.  And so did I.

Edited February 6, 2020 by dmedin

[dmedin]

It might have based at 400, and the MAs are slowly reversing course, but there's no point buying and holding as you have to pay overnight fees.  Totally useless index

[Caseynotes]

 

[dmedin]

So ... the house holds the winning hand ... again ...

[dmedin]

lol

[albertc30]

I've gone long at 448.84 and already down by 215.5 pips. What on earth have I done?

Stop the bleeding or hold? Daily interests aren't bad.

The real question is hold for how long?

Darn it.

[dmedin]

10 hours ago, albertc30 said:

I've gone long at 448.84 and already down by 215.5 pips. What on earth have I done?

Stop the bleeding or hold? Daily interests aren't bad.

The real question is hold for how long?

Darn it.

 

I think it's better to buy and hold via a cannabis ETF or something like that because you won't get charged interest for holding a long position.  As a SB/CFD it's a non-starter.

Cannabis will come back at some point.  If there's one thing the world needs ... it's to learn to chill out and relax ...

Edited March 13, 2020 by dmedin

[dmedin]

Interesting goings-on, very high spike in volume (if IG's volume reporting is to be believed) and a gap higher.

It's been rumoured that cannabis can prevent Covid 😻

Edited May 20, 2020 by dmedin

[dmedin]

The volume spike was down to Aurora's results.  You know, the company IG won't let you buy shares in 🤪

[dmedin]

Fancy a wee spliff, Jessamine? 🤓

[dmedin]

Everybody must get stoned!

 

[dmedin]

Can it 'keep it up', above the gap and the 200 SMA?  Or will it get stoned and go all droopy again 

 

[dmedin]

Description: The ancient Israelites may have used cannabis to get high as part of their religious ritual, according to Israeli researchers who found residue of the drug at a nearly 3,000-year-old shrine. Emer McCarthy reports. Short Link: https://refini.tv/36X0WNJ Video Transcript

 

lol that ain't God talking to you Moses

 

[dmedin]

Might be a bit of momentum building up

[dmedin]

Eileen! 😻

[dmedin]

I'm back in long, Simone 😘 

[dmedin]

And the cannabis index sh!ts its pants yet again.

Stupid fecking muggins that I am

 

[dmedin]

Could still be in with a chance, Peregrin Took.  I lowered my stop loss  

[emmahayes]

Well, I am not a professional trader, but I can say for sure that people love weed, and they will buy it anyway, just like alcohol.