RE:RE:RE:Bullboardmichelleb33 wrote:
8alot of small cap mj companies were weak today even coming off a great day for canopy. Anyone know the reason why. Are we not gonna follow in canopies shadow as that is the measuring stick in the sector. Thoughts?
When they talk about the tide raising all boats is when you see companies follow trend from the leaders . It's not a exactly science thing , company specific valuations and financings play a large role . Shareholder base also plays a key role . The more retail / day traders and flip floppy investors that own shares the weaker the base . This plays a large role in how I choose long term investments. Just one of the many reasons I hold Cronos long term . As the sector matures spreads will get larger and not all companies will play follow the leader . When I look at my portfolio of 46 cannabis holding after a day like today and 15 are red ,the tide isn't rising yet . When I look and 40+ in the green for consecutive days is when that will start to take place again . Look did you see the support on the dip this morning . Unless there's a slow bleed in the sector until September we've hit bottom and bounced 3 x by my count . Shares under .35 are a gift unless noted above happens . Mind you I expect market makers to pump the sh@t out of the volume next bull run . We're holding up on weak volume. All it takes is a couple days on heavy volume . Last time LIB did only 9 million in volume it sent the stock from .40 to touch a dollar . Just imagine more volume . There's a small amount of .60 cent warrants and options in the .70's as resistance . Also need a good pump of volume to shake the bots loose. They steal all the cheapies because I can't trade that fast . ( I hate Algorithms) All this my opinion. I quote Michelle for those who have her on ignore EOM