The Biggest Dope Stock Is Starting To Launch Like A Stock Rocket – Mike Swanson Well this is going to be an interesting week. Remember all that talk about a trade war with China? If you go by what Steve Mnuchin says it turns out Trump was just kidding so the market is gapping up today. China put out a boilerplate statement saying that they would buy more US goods, but didn't say how much or when. Typical China card - but Trump admin used it to say they won, which was probably smart on their part. It's hard to win a trade war against a country that owns so much of your debt so it's off the table for now. Now I don't know if this S&P 500 morning gap up is going to lead to endless gains like they are talking about this morning. Everyone is always looking for this massive rally. Honestly I find the averages harder to game at the moment, because they are still stuck in a big range and trying to trade them is like squeezing a lemon dry when it is like that, so what I'm doing is using BOTH long and short position bets in individual stocks and sectors for my trading. I do have a big 20% secret short position on in something falling this morning again, but that doesn't have anything to do with the US stock market. Now last week I told you about dope stocks in an email and post. Well on Friday the leading dope stock broke out and surged. I'm talking about Canopy Growth which is the biggest dope company in terms of market cap so it's the leader. Take a look at this chart.  Notice how volume picked up last week and the on balance volume indicator shot up. That's a good sign that this move is for real and I expect we're going to see the dope sector trend up this spring ahead of the Canada recreational legalization. If you see stocks break out today without a nice volume surge like you see in this chart than it's probably just robots and not real sustainable buying going on. HMLSF is the dope stock ETF. |