Martial Arts - Your take on MJ sectorMA - As a trader that relies so much on charts and technical analyses, what is your take on the current observation that in this market, "oversold does not anymore equate to sp recovery." And if this trend is currently prevalent in the mj sector then, the only "trigger" for a sudden turn-around is a surprising good news (i.e,, mergers, buy-out, pharma/tobacco/alcohol investments, etc.) (not chart indicators). Does this mean that in the current market situation, good short-term traders, such as yourself, are unable to reasonably "call" the start of a bull run? Traders are now also waiting for good news before taking a position (can be too late!)? I thought last Thursday was the start of the turn-around, but Trump tweeted that $100B addl tariffs on China):
There are so many shareholders that are caught in this downturn - I know a lot of my colleague took their positions sometime in January and while no one is worried yet, we analyzed the financials, tried to estimate the cash burn, etc, it can be nerve wracking looking at your portfolio at the end of the day.
I have no doubt that the sector will recover, at least up to a point. Its the wider market that is really preventing the sector's recovery (i.e., new investors pick up defensive stocks instead of growth ones). Its just a matter of time.
GLTA