originally published Friday, December 29, 2017

Printable Version

All Marijuana stocks

Just when you think you have it all sewn up and in the bag, the market throws a curve ball. During the day intermediate reversal candles have started appearing in many of our cannabis stocks, in some cases on immense volume. This is a warning that the sector may be topping out, at least for now, and it has to be said that some of them could use a rest. So forget what I said about “staying the course” in the update posted on the site this morning. We are not going to stand by and watch our profits evaporate, which in some cases are very substantial and made in a short space of time. We did pick up on this with Canopy Growth Corp and sold it at the top in the early trade this morning.

The following stocks in particular should be sold before the close today. Note that clicking on the stock name will take you back to the most relevant article on it.

Cannabis Sativa CBDS on OTC, $7.05

General Cannabis CANN on OTC, $6.48

You may have missed the 2nd trade shown on these charts, if you set a stop at $2.98 and got stopped out.

mCiG Inc MCIG on OTC, $0.39

Medical Marijuana MJNA on OTC, $0.15

United Cannabis CNAB on OTC, $2.13

According to the perverse logic of the markets it might make sense for an intermediate top to form here – they have had a big run, it’s the end of the week, end of the month, end of the year, and it might be the old “sell on the news” thing, where the legalization in California on the 1st is the fundamental “magnet” that has pulled them higher, but once this date arrives, investors start looking for other things to worry about.

Whilst this may seem panicky, we have reason to be very pleased overall. There is an old saying “You can’t go wrong taking a profit” – that is much more true, when it’s a BIG profit, as is happily the case for us with these. The other positive aspect of taking this action now is that if they do react back soon, we can zoom right in and scoop them all up again at better prices.

So, man your stations.

End of update.

Posted at 3.20 pm EST on 29th December 17. Charts added and improvements made the following morning and posted at 6.30 am EST on the 30th. All prices are for the times of the intraday charts in the article, whilst the closing prices may be observed on the 2nd chart for each stock, which were lifted after the close.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.