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Preston said:
Oh yeah, he's a good one. BUT he's had a LOT of misses too. He went beyond bullish on Australia cannabis and lost a fuckton. He's right about US cannabis now though. The picture is a lot clearer and it is a lot less speculative than it once was.
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Yeah. He certainly misread the timing -- which is obviously crucial in investing/trading. He recently got me into AYR.A, and TER which I probably would have ignored otherwise.
 
Yeah he creates solid awareness for the sector for sure. He's been mostly a loser until this most recent bull run though.. Which is good to see. His persistence paid off. We all knew the sector would be a big one. It was a lot less clear 2-3 years ago to see who the winners would be though. As usual, it's the US that creates these companies. Was the safe bet all along, IMO despite being illegal federally.
 
Cresco Labs, with earnings after hours, really fucking rallied from lows. Still pumping away. Good to see. A solid report will benefit everyone.
 
Added a touch of Curaleaf as well, 10.62. When things turn around I'm bullish on them being the biggest movers. Weakest right now, no doubt, but that can change quickly. Small addition for me to add to my core.
 
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All out of my FB calls -- that trade is all I needed today. Will probably do something else until 3P.
 
If we get a straight continued flush down to ~9.50 on Curaleaf, that's a nice support level and IMO a stronger buy than it is today. $7.50 is when I get really interested though. For GTII my balls deep level is ~15.50 and 13. For Trulieve $20 would be ideal and 16-17 is when I get aggressive as fuck. I wouldn't call these the worst case scenarios but they're pretty close. Can't count them out. There is not much support nearby and may be necessary to get a real bull move into election season.

But regardless, a slow scale in approach for every 5-10% she drops is typically my method. I'll get more aggressive another 15-20% from here if it comes to that.
 
Bulls need follow through and volume on this Thumb bounce. Otherwise, just a bear flag. Cleaned up the hourly RSI as it is no longer oversold. With other names not doing much, I'm not very optimistic. Will keep an eye out though. Follow through (the less likely scenario IMO) and laggard plays will be available.
 
Thumb gave it the old college try but no other names followed. Back down she went. Hourly no longer oversold. Could see another leg down tomorrow.

But anyway, Planet 13 halted, Cresco reporting earnings after hours. Would like to see some juicy news to continue le hype.
 
LeafOfFaith said:
Presty, are you all mj and nothing else, no tech?
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I have a few accounts. Mostly VTI or VUN in many. They are long like king kong and 2009 is when I started funding them aggressively. Also have a touch of SLV that I already took ~100% profits on much of. For MJ I play it in my degenerate account. It originally started as side play money (about 10-15% of my entire holdings) but my degenerate account has squashed the fuck out of the other accounts. It makes up a huge mega portion of my entire holdings. I am going to shuffle it around eventually though in order to protect those gains. I'm holding too much cash right now in that account. Just sitting there acting useless. It would do better just sitting in index funds or something even more conservative than that.
 
They nearly met the 3rd quarter estimates. A beat by almost 25%. Wow.


That'll create some sector hype.

Let's go.
 
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Cresco guidance the most important thing for me. Cash flow positive in June and gross margin will be over 50% in Q3 compared to their mediocre 35.5% this quarter. It's the one thing that they were significantly behind the big boys on.

I'm sold. Cresco is worth a nibble again for me. They've been far more aggressive than thumb with their expansion so they should exceed thumbs short term growth in the next quarter or two. Thumb and trulieve will likely be on the lower end of the revenue growth side of things next quarter. Curaleaf and Cresco should impress in a major major way.

The sector evolves so rapidly. You really need to keep up with this shit. I was thoroughly unimpressed with Cresco the last couple quarters but the increase in capacity in Illinois was huge. And it's going to show bigly in Q3.
 
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