GREAT BACK AND FORTH TODAYBUT......the trend looks to be firming up nicely if not entrenched by now.
I was thinking real hard on the sell this am. hoping to buy back cheaper this pm. and I suppose I could have bagged a 10% swing trade on the trading portion of my position.
But that being said, a guy / gal can get left behind in a real hurry if they are on the wrong side of the trade. Don`t you just hate chasing a smaller position for more $$$.
We appear to be well above the $1.00 Canadian mark now and unless there is a market melt down I don`t think we are going back below $1.00. Infact just the opposite, this momentum play will start seeing larger daily swings with the pressure to the upside.
There are just too many stars aligning.
The large share issue CGC did a few months ago to retire debt obligations was well orchestrated, the debt holders / insiders were privy to or at least had a real good hunch on what was coming next.
Onward and Upward from here, my target is still the $1.30 range before we take a breather but if the trend is indeed your friend...we may blow staright through closer to $2.00 before the share price consolidates.
My conclusion...sell at your peril here as you will likely get left behind chasing pennies.
Hold until we breach the $1.50 mark ( 2 weeks ) then the swing trading will be much more enticing and rewarding even if you don`t get everyone of them right.
My target is to end up with 100K shares, makes the math a whole lot easier.
I suspect a positive NR is in the works - sale of Biosteel, withdrawal of all the frivilous law suits over the misrepresented #`s of Biosteel, or maybe something that no one is expecting. The retail investor is always the last to find out but judging by the insane volumes and up swing in the share price...something might be about to happen or already has
$1.20 close or a tad more is my call, which sets CGC up more another impressive week next week.
GLTA