Sector rotation into drugs and pharma in the US
Perfect timing to give this sector a boast next week. Long is the play currently. There's very few shorts on this stock, for a reason.
The 1 hour oversold on the RSI purchases today were very nice. I did go on margin to get them and needed to get off since playing margins can be deadly. Been there, done that. Being too extended and being forced to sell at the wrong time is not a good position.
Not borrowing and being long allows one to weather any unexpected storms.
Fight fear & fight greed. I was tempted to hold on that margin trade but strict discipline tends to work best on the trade.
The trading algos are working this stock and sector like clockwork. Watch the immediate action first thing money and currently, buy the dips. I can see us dipping back into the $11s but not $10s. I do see us heading into the $13s quickly and if we break that resistance flying into the $15 and further.
The US sector rotation shows money is moving into pharma will should help this sector. And let's not forget, the Law is a done deal. We'll have two of the top three provinces declaring suppliers in the coming weeks and we know Aphria can deliver along with Canopy. Both are solid leaders, Aphria happens to be significantly cheaper at just $2.5B in market cap compared to $7.9B for Canopy. Less than 1/3!