Hey Nerds: Blockchain
- Thread starter zeke
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Preston
MBow30 alt account
I've been accumulating as **** the past couple weeks. Mostly in MSOs at the moment. Went shopping heavily today and **** what a surge near close. That's a terrific ****ing sign.
Mostly in OH for the arby play (gap has been closing but Cresco surged EOD and is oversold as ****... Could be a big reversal there)and GTII as my favorite MSO
Played CURA just before they came out with their acquisition news. Sold at 10.60. wanted to get back in there but I think all of these MSOs will fly... Not going to get too picky on diversifying too much. Feel like that has been unnecessary in the past. Picked my top dogs and will let them run.
Let's do it.
Mostly in OH for the arby play (gap has been closing but Cresco surged EOD and is oversold as ****... Could be a big reversal there)and GTII as my favorite MSO
Played CURA just before they came out with their acquisition news. Sold at 10.60. wanted to get back in there but I think all of these MSOs will fly... Not going to get too picky on diversifying too much. Feel like that has been unnecessary in the past. Picked my top dogs and will let them run.
Let's do it.
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Preston
MBow30 alt account
As for APHA I played them for an oversold bounce play a couple days ago for 5% or so. No ****ing way I ever expected those earning, although I had a hunch reaction would be bullish regardless. Been beaten down and abused so much that anything that wasn't catastrophic would garner a bullish reaction. But nope. Not in my risk tolerance zone.
CH1
The Artist Formerly Known as chiggins.
Yeah. I was expecting a 50 cent pop in APHA even if the news was mediocre. The thing was so beaten down. People were simply bracing for the worst. I like the risk reward when that happens, especially if I'm buying liquid options. The only risk is the premium paid.
Preston
MBow30 alt account
I admire your balls. Told some of my buddies that it would be a calculated risk to play the earnings.. nothing is ever 100% in trading but when you've got odds a decent amount over 50% of success, that's when you pull the trigger.
APHA has done nothing but disappointed since forever really so I was really worried that ther would indeed be some red flags. Saw it as a +20 or -20% kind of day. As ME likes to point out, I'm a baby back bitch who isn't comfortable with that kind of potential downside so I bowed out. They clearly blew the roof off, hence the 40%.
Kudos to you. Took some balls.
If we get continuation Tuesday I will look to add more on next consolidation. I'm pretty locked and loaded but I still have a lot of ammo on the sidelines in case of further slippage. Labs has my attention. If they break resistance, it's basically thin air for awhile. Earnings coming up there and from all accounts they're going to be smashing.
Other than that, I may want to go in on one more MSO. Hard to argue against CURA. The leaders are always nice to have. But honestly I'd probably go in deeper on OH before I make a play there. A single headline of the deal going through and it's a quick 20% at minimum. Biggest upside there, and IMO far too much uncertainty is priced in. Second looks are a formality in a new industry.
As of right now I've got (in order of most held):
GTII
OH
CBII
IAN
Holding some CBII bags but I'm comfortable with my average. Love them as an ancillary play. Need an extraction play I feel and LABS is probably going to be the one.
I'm still not fully comfortable going into LPs. I think they'll do well but MSOs and even extraction plays have to have higher upside heading into the fall. MSOs feel more bottom-ish and honestly they have been beaten up far more than most LPs outside of APHA really. Extraction plays have been the way to go all year and in a trend reversal they could see even more upside. Explosive potential there imo.
Oh and GTII and Cresco are major players in Illinois. They legalize in January. That's a big time market. Not sure I'll hold all the way until January but between that, earnings for the big boys coming up at the end of August, SAFE, and any potential political advancement, I'm seeing some real catalysts coming up in the US.
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Preston
MBow30 alt account
One of my favorite looking charts. I loaded the **** up at 6.55 CAD. And then more yesterday at 6.84 to try to bottom fish.
And this doesn't even include the arbitrage. If CL gets going with the other MSOs, the sky is the limit here. Again. OH has been my biggest moneymaker since getting into weed stocks. By a ****ing longshot. Have bought and sold already on a couple cycles. Thanks to CH for the OH/CRZ tip. It has done me well.
And this doesn't even include the arbitrage. If CL gets going with the other MSOs, the sky is the limit here. Again. OH has been my biggest moneymaker since getting into weed stocks. By a ****ing longshot. Have bought and sold already on a couple cycles. Thanks to CH for the OH/CRZ tip. It has done me well.
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CH1
The Artist Formerly Known as chiggins.
OH is my biggest cannabis position. Not sure the chart means anything because it's tied up in Cresco's price movement. The ongoing discount is pretty annoying.
I'm almost hoping the deal doesn't go through. OH would initially get whacked, but I would load up for the bounce back.
I'm almost hoping the deal doesn't go through. OH would initially get whacked, but I would load up for the bounce back.
Preston
MBow30 alt account
Yeah it has only recently followed Cresco's price movement closely (bullish correlation). It was quite bearish before that. That's where I think the chart means something though. The price refused to break 6.40. It held that level for dear life even as CL continued to plummet.
The discount is so significant right now that something would have to go seriously wrong for it to break 6.40 anytime soon. CL would have to dump another 15-20% or the deal would have to not go through. The former is far more possible than the latter but things just feel very bottom-ish on a lot of these names. If that's the case CL ain't dumping without brutal news and OH should continue to hold that level.
But of course, this is a crazy ****ing sector where anything can happen. This could all just be one big fakeout. I'm more optimistic than I've been since January but that doesn't mean **** all until we get legit confirmation.
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MindzEye
Wayward Ditch Pig
Btw...Wayland is for all intents and purposes, dead.
I stopped tracking Aphria for the same reason I stopped tracking Maricann/Wayland. Once your C-suite is either proven to be full of ****ing liars, or can't be trusted to at minimum keep the people who report to them from doing properly greasy shit, what's the point? I guess Canntrust belongs on that pile as well.
Maybe it's a little fundamentalist, I mean at least Aphria made some major changes, but it's probably a good guidepost in the wild west of pot stocks.
I stopped tracking Aphria for the same reason I stopped tracking Maricann/Wayland. Once your C-suite is either proven to be full of ****ing liars, or can't be trusted to at minimum keep the people who report to them from doing properly greasy shit, what's the point? I guess Canntrust belongs on that pile as well.
Maybe it's a little fundamentalist, I mean at least Aphria made some major changes, but it's probably a good guidepost in the wild west of pot stocks.
CH1
The Artist Formerly Known as chiggins.
That’s the Canadian stock market for you. The Wild West of mining clowns morphing itself to sell the next green rush. Bruce Linton had some real cred with Bay and Wall St, but it turns out operations was not his strong suit.
APHA has become decent, which shocked the street. Held in pretty well today amid the carnage. So did VFF and OH. So, I like the risk/reward in the sector.
Preston
MBow30 alt account
The sector is in an awesome spot right now as long as SPY doesn't go into a complete and utter death. And considering that only happens once every 5-10 years I like our odds. Hopefully shit gets back on track soon though or it'll kill any momentum the sector once had.
Solid day today. Green Thumb held up great too. Would love to see what happens when the market bounce comes.
Solid day today. Green Thumb held up great too. Would love to see what happens when the market bounce comes.
MindzEye
Wayward Ditch Pig
Yep. Announced intent to list on nasdaq.
With that said, I still don't get why people are horny about them. Yeah, they're probably the king of the 2nd tier Canadian cannabis companies, and get cheap electricity. Last I checked the Hamilton facility was a licensing/zoning mess and was way behind schedule. Their investor deck reads like we're still in 2017 with trumpeting about square footage as a metric of success.
I will say this...they filled up the warchest at the right time and don't appear to be a crooked shit show like a bunch of the major players have proven to be over the last 18 months, so that's something.
Altair
Well-known member
Funny you should say that, I came into a little bit of money recently, 50k, and was looking for my money to make money.
Talked to a financial advisor, who told me to buy gold now and wait a year.
CH1
The Artist Formerly Known as chiggins.
If you haven’t bought any gold yet, please let me know when you do. Might be a good sell signal.