The entire sector has fallenThe entire Cannabis OTC sector seems to be in absolute peril the last few days.
I know many are cutting their losses and getting out, so forgive me for being a bit of a bag holder now and and buckling in for the storm.
I do not know how much further down this will go, nobody does. I've lost about $800 or so since opening today on this stock, but I'm still going to gamble here and hold this through Jan/Feb and reevaluate then.
I don't know why we're dumping across the sector this week, other than people bought the hype and sold the news.
Looking at MJNA's lifetime chart, some of the historic runups in price came Jan/Feb so I'm optimistic for the future of Cannabis as an investment. I don't think 2 days of straight dumps after legalization in some major states is representative of the sector as a whole long term.
Lets see. If you're holding with me, buckle up!
MJNA
Do not forget- Trump will be good for Medical Marijuana!MJNA did not perform this week like I expected it to. Admittedly I was one of those guys who thought we'd see 40 or 50 cents by now, but I will still be holding my shares hoping that in the next few weeks we can see some major moves being made with the stock.
Something that I think a lot of people are forgetting on social media is that Trump will be GREAT for the Cannabis industry. Trump is in favor of medical marijuana and the states rights to vote for it.
The entire market is a mess today, so give MJNA some time. I wont be panic selling, even after taking a big loss today.
Stuck with a bagNot sure whats going on with MJNA that's causing these dramatic dumps.
Could simply be nothing more than pump and dumps intended to allow folks to get cheaper shares before next weeks potential explosiveness. Could also be something more at work behind the scenes within the company that we're not aware of.
Either way I'm weathering the storm. My entry points are 0.04 as well as 0.182, with unfortunately the majority of my shares purchased @ 0.182.
I'm in low spirits today, but I do hope next week will have something great in store for us today.
My estimated closing price for today is around 0.135
MJNA- BUY THIS DIPYesterday I said that we might see a bit of a dip after the massive gains that MJNA saw.
This mornings rally up to 0.27 and the consequential dip to what is now hovering around 0.16-0.18 could be an excellent entry point into this stock.
I hope I'm right that these are just either weak hands panic selling or folks talking profit. I don't think we go much lower.
I predict we'll close today between 0.17 and 0.19.
MJNA- Poised for the moonMy first idea here on trading view is probably a controversial one.
I am long on MJNA with 2 entry points at 0.04 and 0.182 for a total of approx 6500 shares.
MJNA is a stock that is poised for success. Even if only for the next 15-20 days. 9 states have cannabis legalization/medicinal marijuana props on the ballot which is encouraging a lot of bullish behavior on these pot stocks.
I can easily see MJNA and other marijuana related stocks continuing to rally both pre/post election. More states legalizing recreational use/medicinal use can only be good for these pot stocks.
Apart from the marijuana related props on the ballots, the presidential race could also affect these stocks. Clinton is someone who has mentioned that she would consider rescheduling marijuana, thus enabling further research into its medicinal properties. Whether she does this or not during her presidency however, is another story. A Trump victory would probably not effect the stock much in either direction.
Tomorrow (11/3/16) I forsee a bit of a dip after today's massive gains. That could be an excellent entry point into this stock if you're looking to add a pot stock to your portfolio.
Long term (1-10 years) I see nothing but success for Marijuana related stocks as legalization continues to gain momentum across the country and medicinal use continues to gain traction.
Short term (1-10 days) I think we could see 0.50 a share.
It's a gamble, but I'm hoping it will pay off!
$VMGI Daily Chart Bottom Reversal Strong Bottom Reversal Volume Leading Into Today's Conference Call