ACB more bears coming to the party?
Updated
My observation and opinion;
It's clearly a bear party in the pot sector. I hope nobody is surprised because we invited them on Mid October.
Some may still be hanging on, holding, and hoping for a turn-around. That has to be stressful. Might want to re-think that strategy. Some may have taken profit and now sitting it out. Some aggressive types may have shorted the crap out of this market.
My strategy is:
Patience! It is now just a waiting game, wait for the bottom, wait for a clear signal that we are heading the other way.
I will let the price do it's thing. Go where ever it must, and when it gets extreme, I will take advantage of that weakness.
I am watching the 7.00 and 6.00 zones for rejection. could be this week, could be next. We may even see some surprising new lows.
But, for now, I will keep my cash in my cookie jar until I see a good reason to throw it back in the market.
Randal L. Lyon
Investor, Trader, Blogger
wealthandgrowth.com
It's clearly a bear party in the pot sector. I hope nobody is surprised because we invited them on Mid October.
Some may still be hanging on, holding, and hoping for a turn-around. That has to be stressful. Might want to re-think that strategy. Some may have taken profit and now sitting it out. Some aggressive types may have shorted the crap out of this market.
My strategy is:
Patience! It is now just a waiting game, wait for the bottom, wait for a clear signal that we are heading the other way.
I will let the price do it's thing. Go where ever it must, and when it gets extreme, I will take advantage of that weakness.
I am watching the 7.00 and 6.00 zones for rejection. could be this week, could be next. We may even see some surprising new lows.
But, for now, I will keep my cash in my cookie jar until I see a good reason to throw it back in the market.
Randal L. Lyon
Investor, Trader, Blogger
wealthandgrowth.com
Note
good rejection off the lower channel last week. Time to get involved again.
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