Everything was right on track with ACB price marching steadily down as expected for a great buying opp pre-CGC earnings and then BOOM!
Stock popped up from $12 to $17, I sold off another 20% chunk (again catching the top of a 2nd peak on this swing here (just couldn't resist banking more 3x profits on this swing) because the high industry gravity and ensuing market crash was almost sure to push prices back down (it has so far but holding stronger now).
Already emptied 60% on the last spike about 3x ROI in two weeks so my ACB reserves are now on red with only 20% left. As much profit as I've banked here, I am worried that CGC earnings could turn around the whole industry and I'd rather not be caught with my pants down before these stocks really take off!
Gonna suck it up and hedge my cannabis bets buying them a bit overpriced if needed (but hoping they crash back some next week along with market). After CGC though we got a big window before the next earnings we need to worry about so hopefully after another nice swing, prices will continue their downward march and we can really load up big before Q2 (overall Q2 earnings will be bad but cannabis stocks should outperform here).
Good luck navigating these wild times!
Stock popped up from $12 to $17, I sold off another 20% chunk (again catching the top of a 2nd peak on this swing here (just couldn't resist banking more 3x profits on this swing) because the high industry gravity and ensuing market crash was almost sure to push prices back down (it has so far but holding stronger now).
Already emptied 60% on the last spike about 3x ROI in two weeks so my ACB reserves are now on red with only 20% left. As much profit as I've banked here, I am worried that CGC earnings could turn around the whole industry and I'd rather not be caught with my pants down before these stocks really take off!
Gonna suck it up and hedge my cannabis bets buying them a bit overpriced if needed (but hoping they crash back some next week along with market). After CGC though we got a big window before the next earnings we need to worry about so hopefully after another nice swing, prices will continue their downward march and we can really load up big before Q2 (overall Q2 earnings will be bad but cannabis stocks should outperform here).
Good luck navigating these wild times!
Data analyst with a passion for best fit lines B)
