Wow, the amount of investing noobs on here is getting annoying.
It seems as though everyone on here is the type that would fill out a form indicating their risk tolerance is 'very high', yet they are unable to stomach a few weeks of red. If you want to invest in something volatile, toughen up.
You are one of two investors:
Who are you? Pick that position and stick to it. I've seen some weak investors on here flip flop from being long term investors, to day traders, back to long term investors, back to day traders. That's a recipe for disaster. Pick your position, and stick to it. If you can't handle a specific loss amount, setup a stop loss. But better yet, don't invest in weed stocks. If you are that hard up for cash, check out Canadian Couch Potato. It's boring, I dedicate a portion of my portfolio to some conservative funds. If you are so fickle, I'd recommend you dedicate 100% of your portfolio to conservative index funds/ETFs so that you don't have to come here crying when we see a downtrend. All the money I have in weed stocks is money that could instantly disappear tomorrow and I could continue on with my life.
If you are unsure of who you are, than I'll tell you who you are. You are a long term investor. Don't for a second think that you can be that indecisive AND be smarter than all of the other investors out there.
Think you can catch the knife while it's falling? Perhaps, but the stock could also run away on you and you will find you have a psychological barrier preventing you from entering at the higher price point.
Don't get caught up with the success stories you hear on here about trading on these swings. If everyone on here went to a roulette table and put money on a different number you would hear of all the success stories very quickly, but those who lost wouldn't be reporting their losses. A few will report, but not all of them. As well, it's (almost) always the winners that get upvoted to the top, it's always the success stories you will see. When you are trading on these swings and the end result in price change is a delta of 0, there may be a winner, but there must also be a loser.
When I wrote this the top post was some guy reporting back how smart he was to save himself 10% losses on this downtrend we are seeing. This strategy worked out for him, today. But the bus could leave without him and you might not hear back from him when he's left at the side of the road diddling himself wishing he was on the bus. But maybe he's just that great too, so don't hold me to it. We can't all be as special as him though.
Ok noobs, let me spell this out for you. The market repeats itself over and over. Things go up. Things go down. You ever walk your dog on the beach? Does he sometimes walk into the water, back onto the sand, left and right, takes a big old poo next to a log at the top of the beach where you can hide it without other people forcing you to pick it up? Your dogs movement is the day to day swings. At the end of the day the damn dog won't take the owner to the pet store if the owner doesn't want to go. The owner is on his way back home, the dog can swing left and right all he wants but the owner is taking the dog where he wants to go. A good (or bad) company, will go where it's going to go. It doesn't give a sh.. about panicked investors and short sellers (much). Meanwhile YOU are busy watching the dog walk to and fro instead of keeping your eye on where the owner is taking his dog.
Look, watch, real market data, neat:
19OCT2016
WEED @ 7.06
Oh, wow, cool, like this CGC company seems very hot, Snoop Dogg is cool. Friends tell me to buy, it will skyrocket. I want to be rich. I mowed lawns all week and will invest my hard earned money and become yacht owner. Very cool. Can't wait
20OCT2016
WEED @ 7.22
OMFG, WEED AT 7.22, I'M RICH! [insert something about going to the moon, rocketships, upload picture of yacht with username on it to imgur] I'M HOLDING THIS BABY TILL WE TOUCH DOWN ON THE MOON BABY! going to go to /r/wallstreetbets and brag, another success story voted to top. Tres cool!
25OCT2016
WEED @ 5.91
Whoa.... whoa.. I mowed lawns... I MOWED LAWNS FOR YOU SNOOP. I'm going to go on /r/weedstocks and complain so hard about how I'm a big noob and how I'm now a day trader and everyone will care, because people love whiner stories and offer much sympathy. Of course, naturally, I'm going to sell all of this at a loss, and buy it when it hits it's new low. I'm totally new to all of this, but based on the statistical analysis I did (checking their website, twitter feed, and listened to some snoop tracks) I determined the floor is $4. I'm also going to let everyone know the floor is 4. Hey that rhymes....
02NOV2016
WEED @ 7.08
Pfft, 2c above my initial entry. Still haven't rebought because 4 is the floor and I already ate up most of my portfolio with commission fees. I'll hold out.
7NOV2016
WEED @ 7.25
The bus... is leaving... wait no 4 is the floor. Stay strong. Complain more on reddit.
15NOV2016
WEED @ 13.45
Ouch... Volatility.. look at what happened in under a month..
Don't be this fictional character. It's not hard to come up with such a character, because there are so many of you who visit this sub and act like that. Good things will come. Sit tight, relax. Stop logging in and checking your stocks on the daily. Sell some of your position and invest it in something more conservative, until it's at the point that you don't feel heartache when you see red.
Also, stop saying you're going to eat a shoe if you aren't actually going to eat a shoe. Nobody believes you anymore.