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Preston said:
The move will likely get faded, but it's always a good sign to see these big ass block orders come through. Some big boys are accumulating. Very stark contrast with CURA, for example. TRUL and Thumb are the sector darlings.
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You can't fade GREEN
 
Kept my Cresco and sold the same amount of Thumb at 18.25 so I'm not overweight on MJ. Still mostly in Thumb and Trulieve. Twas a small Cresco position. Should catch up next week.
 
Preston said:
Kept my Cresco and sold the same amount of Thumb at 18.25 so I'm not overweight on MJ. Still mostly in Thumb and Trulieve. Twas a small Cresco position. Should catch up next week.
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Rebought some Thumb at 18.06 and sold the Cresco at 7.65 (for a sad $100 gain). Locked and loaded now though. Doubt I do anything else today.
 
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MJ would do well to get a leg up today. Sideways for almost two weeks now and just based on the chart, the risk-reward stinks. Big gaps to fill on the downside. But the potential reward has some real fundamental upside so that's why I'm holding for now. A bull break would be yuge and for that.. TRUL needs over $30 and Thumb needs over $20 so we're a ways away. In any case we need a lot more volume than this. I'm cautiously pessimistic.
 
Impressive bounce on SPX but the double top at ~3425 will be the key level to look out for. It's all noise until that is either broken or rejected.
 
CH1 said:
Is AEROPLAN still a good use of my MR points? asking for myself.
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Since I got canceled by Amex I can honestly say I have no idea. This pandemic thing has thrown a curveball into everything and I do not have the work ethic to keep up with as much as I used to.

I did get an email recently from my contact looking for points to buy so they are still at least somewhat in demand. I declined since I'm down to about 35,000 Aeroplan points right now though as I sold everything the month before the pandemic.
 
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Pivoting to solely the leaders and bailing on a clearly weaker CURA and Cresco saved me some money. Thumb and Trulieve are just holding up far better than the rest for now. Now if they lose support it could get ugly quickly, but there's a chance it doesn't. Lots of big dip buyers and lack of sellers on both at these levels. The volume during this consolidation/sideways-fest (or lack thereof) has been encouraging.

Historically speaking, when CURA is at these levels, Thumb is usually at around $12. I'm all about playing the arbitrage and working off one another, but we've seen a long enough sample size to believe that sentiment has shifted on The Thumb as it did with Trulieve around this time last year. They are clearly a sector darling and playing sector darlings while avoiding sector dumpster fires has always been the move. Seems obvious, but you'd be surprised at what dumbass retail mostly hold in this sector. IAN, MMEN, APHA, ACB, etc.
 
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So what's going on - the mj stocks are all faltering or something?

What's the reason?

And yes, been watching TRUL which doesn't seem to want to give up $20 USD.
 
LeafOfFaith said:
So what's going on - the mj stocks are all faltering or something?

What's the reason?

And yes, been watching TRUL which doesn't seem to want to give up $20 USD.
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TRUL ran almost 350% from March lows and near the end it was on steroids. People wanted to get in for their earnings release as they knew it would be fucking insane. It was. It continued to do well for a bit, and now it's consolidating. The chart needs to cool off. Down 20-25% on low volume after a 350% run-up is extremely healthy. It may drop some more, and that wouldn't be a red flag for me either. Just going to be buying bit by bit as she drops.

Their Q3 earnings are in November + the election so likely some bullish catalysts on the way. It's a waiting game until the sector gets some hype again. It's dead right now. No volume.
 
Market wakes up the past week and is either dead in the water, or all optimistic that it's gonna do great that day and then shits in its pants by the close. It needs some positive encouragement or something to finish strong.
 
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