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.
It may have a tough pill to swallow right now, but I'm still optimistic about psilocybin in general, and especially Cybin.
Let's review areas that are hot, those that are not, and how to position though January.