Investing

Cannabis (Marijuana) Stocks

  • Last Updated:
  • Dec 13th, 2019 10:45 am
Deal Fanatic
Apr 25, 2006
5496 posts
724 upvotes
What a complete turn around. We should see some momentum into the AM.
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
Jr. Member
Jan 12, 2008
198 posts
67 upvotes
toronto
esoxhntr wrote:
Nov 7th, 2018 1:17 pm
at what point (or are you) are you looking to get back into CWEB? I put in a bid at 14.50

general question to anyone else following this stock.
I am looking at 14 but am not sure if it will ever get back down there. Realistically I would be ok with anything under 15.
Penalty Box
Dec 27, 2013
8003 posts
3957 upvotes
Toronto
i bought ACB at $9 and sold a call for next week at $10 strike (last week). collected $40.

now ACB is at 10.50. and call is at 100 to buy back... don't know if i should buy back the call, or wait for it to get asgined. i only bought 100 shares.
i was thinking of buying another 500 if this continues. don't know.
Deal Addict
Feb 27, 2015
3583 posts
1378 upvotes
Toronto, ON
Great to wake up and see the hole I was in getting smaller.

Stopped out of HVT tho, so now sitting on 3k cash.

Might throw it into ASNT or Eve.

Trying to DD on who will post PR first. ASNT gets there license back, or Eve packaging is approved and they fulfilled provincial deals.

Hmmmm.

Thoughts?

Thinking EVE, so I can get out of eve faster and then put both positions 10k into ASNT.
Deal Addict
Feb 27, 2015
3583 posts
1378 upvotes
Toronto, ON
What's up with Kaly?!

Up 30% with now news?

Leak?
Deal Fanatic
Jul 7, 2004
5284 posts
945 upvotes
Man I'm kicking myself for not buying back in. Now it's at prices I don't want to jump back in.
Jr. Member
Sep 20, 2010
153 posts
40 upvotes
Hamilton
JRGUINNESS wrote:
Nov 7th, 2018 8:25 pm
What's up with Kaly?!

Up 30% with now news?

Leak?
Was looking at that today as well.
Newbie
Oct 19, 2013
62 posts
41 upvotes
lilmikey wrote:
Nov 7th, 2018 2:15 pm
@pujols

Could I ask you guys your opinion on pick and shovels plays? ie. QCC RTI QCA CBW etc.

RTI has slowly been taking off from their lows of 0.75 not long ago.
QCC has just been sitting around doing nothing but their CEO has been in the media here and there. Just dont know what to make of these companies going forward.
I don't follow most of the small names so I can't comment on any of those companies that you listed.

I'll just reiterate what @hameljon said about looking for companies with a unique focus or business model beyond just growing cannabis (any company with little or no production at this stage in the game is way too late to the party). To your point about companies sitting around and doing nothing - this is a big red flag in my opinion. There are too many companies that are very slow (likely intentionally) at moving forward with any plan...the management teams come up with a fancy story to sell to investors, raise money and then do nothing, all the while paying themselves ridiculously high salaries. I've been burned in the past by these types of shenanigans in the mining sector which is why I'm generally staying away from small cap cannabis companies.
Newbie
Oct 19, 2013
62 posts
41 upvotes
daivey wrote:
Nov 7th, 2018 7:39 pm
i bought ACB at $9 and sold a call for next week at $10 strike (last week). collected $40.

now ACB is at 10.50. and call is at 100 to buy back... don't know if i should buy back the call, or wait for it to get asgined. i only bought 100 shares.
i was thinking of buying another 500 if this continues. don't know.
When you sold the call, you were happy to part with those shares at $10 and collect the premium, correct? If so, it's probably best just to wait it out...if your shares get called away, you will have still sold them for a gain. Things can change quickly so it can be dangerous to chase and buy back the calls now due to FOMO.

I was in the same situation back in early September - I had sold covered calls on APH but started to feel FOMO when it looked like APH was heading back to all time highs...I ended up buying back the calls on a pullback (for a gain) which turned out to be a mistake since the calls ended up expiring worthless anyway. Lesson learned - I had a plan and should have stuck to it!
Deal Addict
Nov 14, 2006
1751 posts
769 upvotes
GTA



Cliif notes, copy/paste:

The resignation of Jeff Session, a notorious "Debbie Downer", is bullish for MJ. Still need MJ to be removed from Schedule I so bank money can get involved though, which would a massive step.
Dan believes there was most likely a news leak as the entire MJ sector ran 50 mins before the tweet came out regarding Jeff Session's firing.
Potential evidence that bots reacted to the tweet before humans would have read and reacted to the tweet. At least one academic manuscript exists regarding this topic, and Dan has read it. This is related to the OTC US MJ market relative to the Canadian MJ market.
Looking for weekly lower highs in essentially all MJ names at the moment. Dan believes this will happen unless there are news releases regarding major deals with big companies.
Can bulls break the high of today, and see continuation first thing tomorrow more to give us the follow-through confidence?
Watch to see how markets respond to the end of day Sessions news, as it will play out after hours, and we don't know how the broader market will react tomorrow morning. We may see this support bull moves.

SPY
Check out the video Dan will put out on SPY very soon (later tonight perhaps). Will look at longer term perspective, and hedging long-term portfolios.
Weekly time-frame is giving us the monthly higher low we were looking for. This is like the February setup and equilibrium. Scouting a lower high on SPY sooner rather than later, and the current bounce puts us over the halfway mark from the bottom, so we'll next need a higher low.
Dan expects the weekly equilibrium pattern to play out faster than in February, but to still play out through until the end of 2018. The break of SPY at the end of 2018 may dictate how things go in 2019.
MJ names are still showing high correlation with SPY, remaining in the weekly equilibrium.
Now could be a decent time to hedge your strong MJ bets.
Haven't lost the daily uptrend yet by forming the daily higher low.

CGC
Looking at $46.74 daily resistance that bulls need to break, then $47.83, then $51.21.
Need to see the equilibrium play out with the higher low, inability to break to a higher high, and a loss of the uptrend. Losing hourly uptrend is indication that daily consolidation is coming, assuming a healthy daily higher low will come.

TLRY
Raging bull today. Anything under $178.85 is lower high. $144.06 was resistance, and today we topped out at $142.84. Due for healthy hourly consolidation. Support at $109.19.
Has potential to break weekly resistance rather than show a weekly equilibrium.

ACB
Looking for a lower high, and likely to form it compared to TLRY as we need a 60% move to see the resistance tested on ACB.
Bulls have to break $10.65 for continuation. Then $10.75, $11, $11.29 as next resistance levels.
Hourly double bottom at $9.58, and bulls had a strong response of it.
APHA
Weekly time-frame, anything under $21 is lower high, Need a 20% move to get there.
Bulls need to break $17.60, first thing tomorrow morning, then $18 and $18.63 are the next resistance levels.
Hourly support at $16.03, and the Sessions news saved APHA from going any lower, so anything above that is a higher low.
Worst case scenario tomorrow we're looking for hourly higher lows to be established in Canadian MJ

CRON
$13 is resistance on weekly.
Daily bulls need to break $9.95 and $10 psychological. Support at $8.95. Can we break the high tomorrow first thing?

KSHB
Significant follow through with Sessions news. Brief consolidation.
Daily chart broke many resistances today, so weekly time-frame looks at a trend change. We were seeing an equilibrium pattern, and then there was a trend change and bull break on the weekly, with $6.93, $7.40, and $8.51 being next resistance levels.
Positioned for a blue sky break out due to lack of resistance if we see a bull break, and this could be particularly affected by any US MJ news.
Hourly is same setup as everybody. Can bulls break high of day first thing tomorrow morning, getting over $6.70?
Saw KSHB break weekly resistance, unlike what happened with MedMen.

MMNFF
Did not break resistance (double-topped out) of $6.34, $6.30.
Tightening daily range, and if bulls can't break $6.34 first thing tomorrow we'll see a tightening 4-hour equilibrium.

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Penalty Box
Dec 27, 2013
8003 posts
3957 upvotes
Toronto
pujols wrote:
Nov 8th, 2018 12:06 am
When you sold the call, you were happy to part with those shares at $10 and collect the premium, correct? If so, it's probably best just to wait it out...if your shares get called away, you will have still sold them for a gain. Things can change quickly so it can be dangerous to chase and buy back the calls now due to FOMO.

I was in the same situation back in early September - I had sold covered calls on APH but started to feel FOMO when it looked like APH was heading back to all time highs...I ended up buying back the calls on a pullback (for a gain) which turned out to be a mistake since the calls ended up expiring worthless anyway. Lesson learned - I had a plan and should have stuck to it!
yea, not acounting for commisions, I would make $100 on the shares and $40 on the call premium.
so i was happy to take that bet.

my question was more if I should buy some more ACB given the surge and if the surge will continue. Another 500 shares on a $1 swing upwards is $500 in a day. could sell some covered calls on that as well for next week as well. so good wins if trend continues. dont mind holding long term either and just selling covered calls routinely to profit.

even the call premium at $40 on a a $900 trade, i mean thats 3% in under 2 weeks. great return.
Deal Addict
User avatar
May 6, 2010
2629 posts
210 upvotes
Markham
I don't get why share prices jump because Sessions is out. Everyone knows that he will be out after the mid term election, just a matter of when.
Deal Fanatic
Apr 25, 2006
5496 posts
724 upvotes
dec12 wrote:
Nov 8th, 2018 8:49 am
I don't get why share prices jump because Sessions is out. Everyone knows that he will be out after the mid term election, just a matter of when.
That is why sell off in the AM rather a gap up open :(
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius

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