RE:RE:Untendering my sharesI prefered APH because it was beaten down and grossly oversold. Keep in mind, I was also heavily in CMED. All of this sector is still in a bearish trend and so is the overall markets.
I find in this sector, you can avoid the unpleasant downswings by selling at overbought. That's what I did on CMED in $40 and how I rebought in the $20s. I've been content trading buying low $30 and selling above $35s.
Right now, I'm back mostly in cash. Really appreciated the CRON uplift we saw. Perfect timing since most were oversold. We needed that because the US indexes are scary, if they were so scary I would be holding and wouldn't be such a shy bull.
Here is a chart:
Notice the downtrend on higher volume. That's bearish...
Two biggest issues I see that might show up are:
1. the markets are downtrending and the downtrend on the sector is not over. Yes, the spike from the CRON Nasdaq listing was fabulous and allowed traders to get back into the comfort of cash. One a downtrends, it's always a good idea to consider taking profits on a spike until the uptrend is confirmed.
2. There is overall weak volume on all these MJ names except a few.
I'm still hope we get a nice solid green day tomorrow but if the US indexes crash, which they might, I prefer to reload cheaper with available cash. If my cash is lock up for 2+ weeks, youre stuck.
But I plan to hold shares into the conversion since I would bet we'll see a spike just as the take-up is underway. I still have a significant core holding that is nowhere close to what I've held in the past.