I have my eye on relative strength in groups that have lagged for a very long time.
Many stocks are very oversold, and sentiment is about as bad as it gets.
Here we'll hash out the differences among cannabis players and see high how Roundhill Investment's The Cannabis ETF can go.
Pressure on fertilizer supplies due to sanctions against Russia because of the war in Ukraine makes the potash producer a star performer in a down market.
Tilray is okay in my book for speculation.
There should be some better trading action and setups as things pull back.
It isn't brave to trade without a game plan; it's foolhardy and can result in big losses.
Small-caps and growth names are relatively weak.
Let's check out the 21-day exponential moving averages of SPY and QQQ for clues and also look at three stocks for trading ideas.
While performance hasn't been mind blowing so far, psychedelics are where cannabis was a decade or so ago.
I'm looking at a possible inverse head and shoulders forming on many cannabis charts.
Yet there's good relative strength in biotech, growth, cannabis, small-caps, and other sectors that have been the biggest laggards.
They range from doing nothing to jumping into the day-trading fray.
TLRY posted promising earnings, but don't expect it smoke past its current levels for long.
You think the Tilray brand name is worth $2.8B? Market cap is barely above $3B. Does give me pause.
Cannabis is about the only space where I'm long, and that isn't for technical reasons.
The broader market had a very tough go of it in 2021, but you wouldn't know it unless you do some digging. From Reddit and Diamond Hands to SPACs and a stealth bear market, it's been a wild ride.
And there are a few ETFs and a silver miner that could provide the vehicles to play this hunch.
Will these exchange-traded funds pay off or send your portfolio up in a 'PUF'?
We're in good shape for a continuation of the upside action next week.
Today's move has a good shot at breaking the nasty downtrend from the past three weeks.
Let's review Advisor Shares Pure Cannabis and Amplify Seymour Cannabis ETFs -- and what do swaps have to do with the 'sticky icky.'
Uber Technologies and AdvisorShares Pure US Cannabis ETF are tempting as buys amid a landscape strewn with a lot of broken stocks.
There's one mistake that's easy for traders to make in this sort of market.
What caught my eye Thursday was the bullish reversal in Curaleaf Holdings and Cresco Labs during the final minutes of the trading session.
The good news is that some of the frothy speculation has cooled, and skepticism is building.
Right now, there is tension between overbought technical conditions and an appetite for speculative trading.
Trading in cannabis, electric vehicles, and a variety of SPACs was extremely strong.
Given that cannabis stocks have only begun to turn higher, I'm not going overly aggressive on this trade.
Big-picture experts fret about how the indices are dancing around to inflation and other macro concerns while missing the positive action in many stocks.