RE:A Breakout refers to..quinlash wrote: When i heavily shorted stock breaks free from shorting suppression. Shorts can hold down a share price for extended times but once the market pushes the price up and forces the shorts to cover the correction tends to be massive.
Shorts create buying opportunities for patient bulls who are confident in the company however the risk is time and making the mistake of letting go of all your shares early preceding or during the breakout. I will be planning on either not selling when it happens or doing a very small partial trade to retain shares for US Legalization
Four things could show us a breakout quickly
1 - more positive news on US Legalization (may occur before xmas)
2 - big PR from Tilray on new merger / deals
3 - cash positive numbers on qtr report / very strong report
4 - Big Insider buying activity on open market
The PRs on new products are great to see but we need something bigger
I'm opting to wait as I had always planned to be in at least until the US legalizes MJ
Jmho
Rob says he sees the pattern forming correctly, that's "nice" but I'm not a fan of chart guru magic readings (sorry Rob), I would prefer to see Tilray drop a nuclear level positive PR on a Friday to catch the market off guard and greedy for shares the following week
Jmho