AngusMcK

POTX - CANNABIS ETF - Running again after pullback

Long
NASDAQ:POTX   GLOBAL X FDS CANNABIS ETF
PotX is looking like it is back on track again with a strong 12% gain today. RSI heading back up, and OBV shows buyers are pushing the volume at the moment. It is one of the best performing ETFs at the moment so if you are looking for safer trades by picking an industry sector as opposed to an individual stock this could be worth a look at. I also like that is price is still sub $20 which always makes it attractive to the mass market retail investors - more bang for their buck so to speak.

AMEX:CNBS would also be worth a look. Much of a muchness between them, I just think POTX has more confirmed upside and has the momentum at the moment.

Comment: Nice little 15% move before minor pullback again.

Comment: Crickey - got my 50% out of it much quicker than I expected. Would have to be a pullback sooner or later, but I'll look to hold this probably for the next 12 months without too many exits along the way.

Comment: Another 20% run. Thats almost 80% and its on an ETF. Underlying sector is going nuts.

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Comments

Can't lose with cannabis long term.
+1 Reply
I like your point on mass market buyers liking the lower prices. Everyone I talk to that doesn't invest sees lower priced stocks as more valuable no matter the growth rate.
+1 Reply
AngusMcK DrWabiSabi
@DrWabiSabi, human psychology thinks a stock can more easily go from $10 to $20 than $100 to $200 ;)
Reply
nice work AngusMcK
+1 Reply
AngusMcK PoINT5mattic
@PoINT5mattic, have to see how it goes over the next few days / weeks :)
+1 Reply
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