RE:RE:Is WHOLE mj sector 'correction' -Result of ACB/Cmed buyout?
What is going on is a correction. We have seen this time and time again in this sector over the past few years. Major news acts as a catalyst and propels these stocks higher. The news can often be related to only one of the major players (more often than not WEED) and creates a tide of sorts that floats everyone's boat. The tide, however, must go out at some point, and as the news fades away out goes the tide. Drops in stock price and temporary stagnation are the result, at least until the next story comes out. With legalization on the horizon and plenty of media attention covering some very exciting industry developments the frequency of this natural ebb and flow has certainly increased. A year ago corrections such as these might go on for weeks with stock prices languishing for days and days. That may not necessarily be the case anymore. Be careful not to get left out when exiting a position out of fear, only to have it suddenly rebound by a dollar or two when an unexpected NR comes out the following day. Watching these stocks tick by tick might be enthralling while they are going up, but when a correction comes along you might find yourself in a panic and tempted to sell. My advise would be don't watch too closely (unless you are a day trader). Set a goal and sell when you reach it. Don't get too greedy, but don't sell yourself short. It's a tricky balance that sometimes requires nerves of steel and an absence of emotion. Oh...and most importantly... dont listen to anyone on this ridiculous board!