RE:RE:I am excitedDonwaan wrote: Yes a big day for the markets and for WEED. But where do we go from here? Will Canopy sell off tomorrow? Or continue to run up to the November 15th meeting? And what of after that? Any good crystal ball readers out there?
No crystal ball but common sense. Better inflation number still very bad.
Current Annual inflation for the 12 months ending in October 2022 is 7.75%
I think that the price will go down but it is just what I think but I prefer not. The price is higher than my average. I buy in lot with incredemential price orders. Since I covered my last shorts, I make small orders since the price was low. These are just temporary prices for the companies, it is not boosted by good financials thus making money.
With all these news, the meeting next week, the bad but better inflation number, the good climate created about the legalisation news in some states will not bring any money to any companies.
If I was not working it would be simpler but I will take a small short position order for tomorrow since I think the stock will go down though I hope it will go up, so my small short position. I don't know the effect of the vote but I will not miss this opportunity if the price goes up. Margin call doesn't affect me at all because I have common sense and expertience, even very costly experience. unlike the bag holders, I learn from my mistake.
PS; Why would you care for tomorrow's price unless you are a trader? Eventually it will go back down unless legalisation measure, vote, etc. Incremental small position lead to a good amount. At 32% interest borrowing rate, I don't want the price of Canopy to vegetate. If it was not for the vote next week, I would take a quite big short position. The high cost to borrow is because it is obvious where the company will go.
The financial sector is also part of the fake news. I always question what I read and
it can't be serious, moderate? . Inflation is down slightly from the June peak, but even moderate inflation can rapidly erode purchasing power and creates uncertainty as businesses have more difficulty estimating future costs.