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Hey Nerds: Blockchain

VFF is back to where I bought it last week.... I think this one could fly if the banking bill goes through.

It's one of the few CDN cannabis companies that US institutions aren't afraid of.
 
CH1 said:
VFF is back to where I bought it last week.... I think this one could fly if the banking bill goes through.

It's one of the few CDN cannabis companies that US institutions aren't afraid of.
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Yeah I'm considering skim only half of my position if there's a decent bounce off this play. I like them at these levels.
 
Got stopped out at basically break-even. Has space to drop more and isn't as oversold as we've seen it in the past. I know they have it in them to rocket ship upwards at any given moment with their tight float but the chart is broken technically. I don't want to take on more risk at the moment.

Will look into them again if we see ~10.55, depending on how extreme the conditions are of course.


EDIT: It actually hit 10.50 and I got cold feet, admittedly. Increasing bear volume over the past 4 days. Odds are we see a bounce within the next two days (and potentially a monster bounce) but the fear of potentially leaked news is getting to me. It's a scary one for me.
 
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nationalpost.com

Feeling burned: The first year of legal cannabis has been a complete disaster for investors

Shares of the 10 largest Canadian cannabis producers have been bludgeoned, yielding an average negative return of more than 57%
nationalpost.com nationalpost.com

Lol, ouch.

Since recreational cannabis became legal on Oct. 17, 2018, the shares of what were then the 10 largest Canadian cannabis producers by market capitalization have been bludgeoned, yielding an average negative return of more than 57 per cent for investors.

Tilray Inc. alone has lost more than $14 billion in market cap, and Aurora Cannabis Inc. has shed $6.8 billion. Six of the Top 10 have lost at least half their value, with scandal-plagued CannTrust Holdings Inc. suffering such resounding losses that it no longer appears in the list. Of the 10, only Cronos Group Inc.’s market cap has grown over the past 12 months, though its share price has declined, like those of all the others on the list.
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Invest in Cannabis they said.
 
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HEXO with a strong guidance reduction. 1.2b market cap. Down 17% in premarket. That's just the beginning though I think. That's a valuation that needs to be chopped in half at absolute minimum.

Another one bites the dust.


Edit: and a VFF bought deal to explain the price action. Glad I stuck to my stop.
 
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Carnage. Lower lows coming. MSOs still not quite close to decoupling from LPs. Need a cleansing on the LPs. The lower we go, SAFE actually passing could become a real fucking explosive event.
 
I don't think anyone should ever "expect" a parabolic event like December 2017, but I wouldn't be surprised by another one once the wave of capital hits the industry. I could see a lot of speculation buying propping up SP between the senate vote and the law going into effect, but the real show starts on day 1 when it's legal to hold cannabis assets.

Mind you, we still need to see that language added to the bill, but yeah.
 
I'm taking some hits, but feel bad for a bunch of people I know who think the investing world is 100% pot stocks.

You try to mention other sectors, and their eyes just glaze over.
 
Out of ROKU calls (for now). Made my monthly nut in 3 days. May reload under 115.
 
CH1 said:
I'm taking some hits, but feel bad for a bunch of people I know who think the investing world is 100% pot stocks.

You try to mention other sectors, and their eyes just glaze over.
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It's what drew me towards trend trading. It literally doesn't matter what you're trading. Stocks, currency pairs (which I haven't tried yet), Israeli pork futures (go short, for the love of god), whatever.

Congrats on the Roku trade though, I looked at that shit mid run and had missed the bus already (before it shit out a bunch of value there) but it looks like it's maintaining it's general uptrend since earnings. A lot of room to play in between this level and that 176 from a couple of weeks ago. Looks like it's starting to build some momentum.
 
MindzEye said:
It's what drew me towards trend trading. It literally doesn't matter what you're trading. Stocks, currency pairs (which I haven't tried yet), Israeli pork futures (go short, for the love of god), whatever.
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That's true. But the wind is behind your back when you're looking at sectors displaying positive momentum. When the hot money is attracted to a sector, the charts tend to work better because all the traders are looking at the same patterns (creating nice self fulfilling breakouts) plus you get the added fuel of emotional noobs buying short term highs and selling short term lows.

As you know, pot stocks lost momentum ages ago. So, trading them is mostly bottom fishing (or positioning for the long term). I can be guilty of bottom fishing but if I look at my record, the results are better when I capture a nice chunk of the prevailing trend.

As for Roku, I suffered a few paper cuts last week. But got back in when it showed relative strength on Tuesday while the overall market plunged.

I think it has room to run to 130. I'm betting it just needs a break before that.
 
and just to clarify, I said their "investing world is 100% pot stocks". Trading/scalping is a different animal.
 
MindzEye said:
I don't think anyone should ever "expect" a parabolic event like December 2017, but I wouldn't be surprised by another one once the wave of capital hits the industry. I could see a lot of speculation buying propping up SP between the senate vote and the law going into effect, but the real show starts on day 1 when it's legal to hold cannabis assets.

Mind you, we still need to see that language added to the bill, but yeah.
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Oh I agree. And I think it's fair for the market to price in a shit ton of uncertainty of even SAFE passing anytime soon. Until that happens.. And potentially as long as we get that added language in SAFE, this sector is only good for short-term flips. Potentially establishing long positions on some of the US winners isn't a bad plan either.

But yeah.. The name of the game is to follow the hot stock/sector. Can lose a lot of money chasing, hoping the sector or stock catches steam.
 
I did last quarter and it was a big winner. But I'm sitting this one out... I will probably play Canopy earnings in November
 
Nope. Nothing in cannabis is to be trusted to act as expected, nobody should pretend to know what good news really looks like or whether or not it will move a stock in the right direction. It's pure gambling right now.
 
MindzEye said:
Nope. Nothing in cannabis is to be trusted to act as expected, nobody should pretend to know what good news really looks like or whether or not it will move a stock in the right direction. It's pure gambling right now.
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Clearly a shitshow is priced in (much like last earnings) so while it's tempting we're into wild wild west territory right now. Not worth it for me.
 
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