Are Pot Stocks In a Bull Market?

The answer to the question, my view only obviously as there is no right answer, is found down below.

A discussion of pot stocks at the very popular and respected Motley Fool can be found here. And like everywhere on the internet it is written by a clueless clown. Here is the title – “3 Reasons Canadian Marijuana Prices May Plunge” – yes MAY PLUNGE. Or well they may NOT plunge. And he followed it up with this brilliance – “Don’t be surprised if weed prices begin to decline shortly after blah blah.” Or in other words, MAYBE they won’t decline. Or MAYBE we won’t be surprised. Wow super helpful. So Sean, are they going to decline or not? And are we supposed to buy, sell, short? This is the beauty about these idiots. He wins either way. So this is the total trash which is written at the most beloved websites.

But here is what I do at my not remotely beloved, nor popular, nor respected website. On 12/21 I put up this post (shown below). It was written right into the lows of the pot stock bottom which was then followed by the speculative blowoff top (also discussed below). On 12/21 was a detailed discussion about my buy of CANN. I did not say may, could, don’t be surprised. I discussed my buy of CANN. Only 3 outcomes from that – win, scratch, loss. Anyone who read that PUBLIC post could have bought there with me. I rarely have home runs, that was one of them, a 4 bagger. This business is not about magic and brilliance. It is about hard work. Period. I’ve been around this business a long time, and it has always amazed me the minority of people who truly understand that.

Not only did I do the post about my buy that day, I discussed my second profit exit, selling most of the remaining position. That was posted intraday for subscribers. And again, if people don’t want to pay attention to this and work hard, that is out of my hands. I gave the buy to the day, and the sale almost to the minute.

From 1/9, the speculative top:

The pot stocks are WAY overdone. I have been saying that they are not currently a market to invest in (for me). Only to trade. I sold most of my remaining CANN position. Here is the explanation.”

Here is that original chart from 1/9:

 

And here is the chart of CANN today:

 

 

 

 

From 12/21, the original post:

Spartan post today, but it’s all discussed in the video. Trading is trading. Period. The MGTI setup into my buy yesterday was a 123 break of the secondary rally low. Sound familiar?”

12/19 charts:

EUR   KONE  MGTI BTC

Fills and 12/20 charts:

CANN EKSO MGTI BTC INTV MGTI

Are pot stocks in a bull market? Yes, especially the Canadian ones. But they have to be traded, and like in any bull move, not all of them participate.  And again, that has been discussed over and over on this website, like right here on 4/16 where I laid out the resistance area in CANN, well ahead of time, as CANN was 4 at the time of the posting, sideways green arrow. So for anyone who was long CANN, and is paying attention to my posts, did they sell into the resistance or not?:
The pot stocks continuing to rally, the American ones outperforming the Canadians on this rally. I have long given my preference for the Canadians and those symbols, APHQF, ACBFF, TWMJF, those were given a long time ago plus CRON.The long-term trend is up, but that 1/9 speculative top was huge, as discussed that day, intraday. CANN big rally off the low, 5 resistance, MSRT, OWCP, CNBX other Americans, really lagging at this point.”
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About traderscott 1019 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

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