RE:RE:The BuY And HOLD strategy..Sorry to burst the bubble of the chart guys however charts are (IMHO) a colorful way to see the historical movements of a shareprice. Charts do not forecast news events like what we seen for C-19 back in 2020 nor did charts predict the incredible prices seen back in 2018/19 for all pot stocks when Canada was working towards legalization.
Sure, there is a group of traders that use charts to buy what they see as a low and to sell at what they see is a high however many of those in that group have also seen the value of their investments go down when the "charts" may have shown it as a sure thing. Charting guys likely also have seen a Shareprice run much higher than they expect, even when the "charts" indicated a certain dollar value of the shares was "top".
Here's the trick... don't get greedy. If you are "in the money" you have the option to trade out some or all of your shares to take a profit. If you are "out of the money" you have the option to take a loss, average down, or add time to your original timeline.
You only lose money when you trade out at a loss, that's when the loss is real
You do not make money unless you set a target to sell some or all of your shares at a profit. That's when a profit becomes real.
What moves the markets is news, everyone should be painfully aware of that by now. The shorts in 2018/19 seen it as their short trades were destroyed with the continual increase in pot stocks prices.
Everyone holding in 2020 seen it when C-19 came out and all sectors sold off.
The major news pending now is the US Legalization of Cannabis, that one will dwarf anything seen in Canada back in 2018 as Corp America will be free to invest as well as make bids on companys they are considering for take-over. HEXO is now a prime target due to their JVs with Molson-Coors, their solid products and a wealth of patents for Cannabis infusion and production methods.
The major news pending for HEXO is the Dec 15th Earnings Report where the company will report full earnings from Zenabis, 48-North as well as the Redecan Numbers.
If it makes you feel better... consult a chart to see what will happen to the SP... that would be a cute thing to do with your time.
Q
- Long on HEXO