9.5.18 - Going long since July 17. Hoping Jan 10 18 and Jun 22 18 provide a support structure into the end of the month or early October. Today's low of 48ish gives me confidence that I can scope some more shares up between $45 and $36. Still need to keep in mind fundamentals: hype bulls, $76 evaluation from Cowen, post Oct 17 sell offs, and Constellation's potential 51% stake.
Same. I would buy at $46.50 support and would have bought some at the low of the dip this morning but my last sell was at $45 so doesn't really make sense. I have a feeling we won't hit $40 though. There is strong support at $41.15-$43.12 so I feel that'll be the low of the dip before we start running again.
CryptoHarper
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Do you not think there will be a run in October with news coverage of legal sales hyping the stocks up?
theisler
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@IanHarper94, I think this might happen. I'm looking to buy at $40-$36.
Nameismyname
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@theisler, @IanHarper94 I did grab a bit this morning when it went down to $48. Ian, I appreciate you pointing our that support range. I'm very new to technicals, and will make sure to factor that into my continued research. This rally is beyond my comprehension, so I'm trying to factor in FOMO as we head into October.
What are your thoughts on the peak? I haven't really looked at Tilray, but $80 a pop. Woof.
CryptoHarper
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@heather.m.schmeckpeper, Yeah I'm in awe, I thought it would pull back ages ago, so I'm currently sitting on the sidelines wishing I didnt sell. Tbh I'm thinking of just taking my (smaller) profits and reinvesting in a different stock so I don't have to deal with the prosepct of buying higher than I sold if the rally continues.
FSD Pharma has great fundamentals and seemed to do well today while the other stocks were selling off. Also waiting for Kaly to reverse and maybe also HVT, Maricann
Nameismyname
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@IanHarper94, You and I are in very similar boats on CGC. I'll take a look at FSD Pharma! I always appreciate a tip. Have you looked at Dropbox? I'm going to start charting them this week. They seem to have solid fundamentals, and with the positive consecutive quarters and analysis I wanna dig deeper.
CryptoHarper
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@heather.m.schmeckpeper, I just viewed this idea which is interesting. If this guy is right, we may never get a chance to buy lower and made the usual mistake of selling at the beginning of a parabolic trend. Link:
did you trade FSD on friday? I would have given you the perfect tip if you did haha
Jesus I didn't realise Dropbox IPO'd so recently, I woulda thought they were already a public company! thanks for the heads up, such a buy to me. Woulda thought it would have started a bull trend straight after the IPO. The only thing I'd worry about is the fact that tech stocks are in a bubble and they pulled back pretty hard on friday. If buls buy the dip on monday though its clear and all go!
CryptoHarper
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@IanHarper94, I've too many buys on the table and not enough cash now! want to buy Tesla on monday after the "Elon smokes weed on JRP" drop haha
kelleyj
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@heather.m.schmeckpeper, My thoughts.....September is generally a bad month for stocks, and the Canadian weed stocks are hyped at the moment too. I feel like they will go down some, but come Oct. we will start to see massive growth to continue. I bought in a few months ago and haven't sold yet, and plan to pick some more up around $47. Even if it drops below $47 I sill feel safe at that price :)