Shorts need to coverThis is an interesting morning watching the MJ sector attempt to recover from the Banksters continued manipulation. Most stocks are in the green as the shorts appear to be covering after slaughtering a good deal of Moms and Pops into submission with the huge losses incurred due to the massive sector short.
I suspect that TNY will be languishing in the red for a longer period of time compared to the Cdn weed stocks due to the simple fact that the majority of shares are being held by die-hard longs who wouldn't sell their shares till we start heading north of $5.00.
My personal suspicions are that the Canadian Weed Market will be in a bearish mode for at least the coming year. The good old days of speculation values are long gone and investors will see a culling of the herd as overvalued non-profitable MJ Companies are either bought out for pennies on the dollar or will simply go belly up. Canadian MJ stocks might be attractive to day traders but I can't see any blue sky for the foreseeable future.
The only MJ stock I currently own is TNY. Our Company will soon be considered an international adult beverage producer as opposed to the current assumed sector being a Canadian pot producer.
All these are my opinions, of course.
Btw........Here is how the trading began today with RBC (Bankster shares owned) vomiting 50,000 shares at the opening bell at $.39. What a joke! Congrats to all who have the ability to take advantage of the "gift" presented in the form of ridiculously priced TNY shares.
| Trades for C:TNY on 20181206 -Opening dump by RBC |
| | | | | | | | |
| 09:30:00 | C | 0.39 | -0.07 | 8,000 | 85 Scotia | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 500 | 7 TD Sec | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 1,500 | 9 BMO Nesbitt | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 4,500 | 79 CIBC | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 1,000 | 124 Questrade | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 3,000 | 9 BMO Nesbitt | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 4,000 | 124 Questrade | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 4,500 | 2 RBC | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 500 | 2 RBC | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 2,000 | 13 Instinet | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 5,000 | 99 Jitney | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 2,000 | 7 TD Sec | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 3,000 | 13 Instinet | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 5,000 | 13 Instinet | 2 RBC | K |
| 09:30:00 | C | 0.39 | -0.07 | 1,500 | 2 RBC | 2 RBC | K |