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Preston said:
So with weed it's just one day of action. If similar selling/buying continues into today then it becomes a potential pattern and not just a one off. By day 3 I'm convinced. Keep an eye on ffnt. Could be a low hanging fruit opportunity. Down 34% yesterday. They sold a lot of it. If that continues, when it bottoms it's for sure a buy. If it already bottomed then it was a buy yesterday. But typically these rebalancing things aren't one offs. We shall see!
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Sorry, what was down 34% yesterday?
 
In cannabis the big issue right now is that etf selling the fuck out of gtii again today. They are reducing their thumb exposure substantially and that in turn is holding the sector down. Thumb still green for now but Nat Bank is spanking it. Would be blasting otherwise.
 
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Preston said:
In cannabis the big issue right now is that etf selling the fuck out of gtii again today. They are reducing their thumb exposure substantially and that in turn is holding the sector down. Thumb still green for now but Nat Bank is spanking it. Would be blasting otherwise.
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I have a branch nearby. I'm going to give the teller a piece of my mind!
 
CH1 said:
my bad

so...Thumb and Kim are up, and smaller cos are flat/down....do these readjustments take breathers?
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Yeah looks like a different pattern today. But thumb is definitely still being sold today. On the road so I'll check the rest later.
 
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Preston said:
Market is baaaack. Poor Gayed
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sold my last short runner of the day earlier....it's been a fun ride being a bear

I shorted TSLA out of spite this am...that NEVER works...but it did today for a bit of pocket change.

looking forward to sitting on my hands until I see something juicy
 
Took a quick look and it's much of the same. Traders taking profits on verano and CL but the ETF is buying there. GTII is being sold the most and is clearly being held down.

Jushi keeps blasting. MRMD keeps blasting. FFNT keeps dumping. Tldr: Same story as yesterday with the ETF, price action slightly different. More liquid names like CL and VRNO are seeing profit taking.
 
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Thumb gets another fake haircut (it's being sold the most by far) while trash like MRMD, plth, aawh, cbst, JUSH continue their ascend.

FFNT down around 45% in the last 2 days. That's a product that simply can't handle that amount of selling pressure. It looks doomed. But catching the bottom is likely to be very lucrative. It's gonna pump like crazy once the selling is over.

The $MSOS ETF had one buy yesterday: FFNT. Despite no inflows and -8m in cash. So they're dip buying that one. Should age well but likely short term pain. I bet they bought more today.
 
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The ETF sold 1,814,896 FFNT shares the last 2 days. What's 1,1814,896*3? 5,444,688. How many FFNT shares does the ETF have left? 5,444,688. They will be selling their entire FFNT position and have nothing left to sell by Monday. This makes it likely that the overall rebalancing ends on Friday. I will be selling my CBST EOW and depending on what I see elsewhere, I will be buying GTII and/or FFNT. Monday will be the beginning of the re-pricing process since the ETF fucked the entire sector up this week. CBST, AAWH, MRMD, PLTH will tank and/or Thumb, FFNT will blast. Nothing is 100% but you won't find a higher probability play out there in the entire market IMO. Have seen this exact process play out for 5 years. Only risk is big buyers/sellers front running and getting in or selling prior to Monday, negating the big ETF sells/buys. Or Gayed being right and the world going to shit and everything going to 0 on Monday.
 
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The unwinding continues. Dip buyers have stepped in on FFNT despite the aggressive selling. Thumb has had 5000 failed breakouts as the programmed selling every ~5 min is crushing them.

Today would have been a great day for weed to run. Perfect environment. But it's not going anywhere without thumb blasting and for some dumb reason this ETF has decided to substantially reduce its thumb exposure. So it's stagnant for now. I may pick up a starter today. The ETF selling should cease by EOD tomorrow.
 
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I decided to let go of my CBST at 39.5c. Perhaps early. Tomorrow is another day of major ETF buying. But a ~45% gain in a couple weeks on a fairly substantial position is nothing to sneeze at. Sold in case it can't get through 40c but it likely has 1-2c upside before the inevitable Monday pullback. Dipped my toe into Thumb as well at 14.84. Let's see.
 
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Preston said:
I decided to let go of my CBST at 39.5c. Perhaps early. Tomorrow is another day of major ETF buying. But a ~45% gain in a couple weeks on a fairly substantial position is nothing to sneeze at. Sold in case it can't get through 40c but it likely has 1-2c upside before the inevitable Monday pullback. Dipped my toe into Thumb as well at 14.84. Let's see.
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you just triggered/aroused a good ~20% of posters here....prob being conservative there...
 
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