ACB more bears coming to the party?
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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
Ghi chú
good rejection off the lower channel last week. Time to get involved again.
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