PINL:HERTF - Post by User
Comment by
PumperStalkeron Jun 01, 2018 11:11am
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Post# 28111315
RE:Shorts
RE:ShortsEXCELLENT !!.. FIVE STARS
Entrancemperium wrote: CANN is not shorted significantly in my opinion. Too much of a high risk low reward at these levels & volatility. Those who short do so with the help of partners and tend to do so blitzkrieg style, all in, opening & covering between reports (cycles of less than two weeks, sometimes a few days). They just catalize dumping and market macro factors. They may also use cheap paper granted a little while ago to cover as mentioned by PumperS. recently.
Right now I see another round of slow bleeding (capitulation, panic selling etc). If there is short activity in the short term it will need triggers. A huge one will be anticipation & uncertainty related to the senate vote next week. Others may be the slow bleeding of SP leading to a break of different levels (0.25, 0.23, 0.20).
Volume might not be a good thing for CANN next week. Same should apply for the whole sector, with an exacerbated impact on juniors.
Then what happens next Friday will depend on the 3rd reading results (fast track to legalization or further amendments or delays). It should be a formality in my opinion, but the bears will grasp the opportunity before going long again for sure. I'm bullish on the long run for CANN (for all the reasons we know, Clint on board being paramount), but I admit I have that bearish sentiment until cultivation license (the turnaround time is a pitch black box really), even more so until the 3rd reading. For me it is just a matter of hunting for the best possible entry point and I don't feel it is right now. If I'm wrong so be it, I'll either catch it back on the way up else there's plenty of fish in the markets.