Been a while….
Been a while….
The Trump dump.
Washer would like to thank president pastie face orangutan for making the bull market in Canadian marijuana stocks more certain than ever.
What a spectacle we had Friday… participants jumping out of positions like the fricken building was on fire. All 5 weeds down as much as 10% in early panic trading.
But ‘old on a minute dere, eh. Weez Canajians.
We don’t give a flying frick about Yankee legislative confusion. Now our stocks are the only sure thing.
American sales/exports were never in the equation. Canada is going to be the leader world wide going forward. We are going to generate a lot of attention. It’s a big responsibility. We are writing the playbook here.
We recovered most of the dip by days end. The drama barely visible on the weekly’s. Might take a few sessions for the lights to go on but this is a bullish event. A catalyst.
Here’s the line up without comment. Nothing has changed.
I am not an investment professional. I am an angry troll trying to lure you into this sector so I can get rich, dammit! I plan to roll around naked on that money while weed vapor is pumped into the room…legally… and YOU will have paid for it. BWAHAHAHA!
Been a while.
Let’s review the trade:
With the election of Justin Trudeau 15 months ago began a major and potentially long lasting bull market in Canadian Marijuana producers. This thing is just starting with the major catalyst still ahead of us. (Legalization for recreational use).
Washer, being generally lazy and high all the time abandoned his gold stocks for weed stocks and plans to spend the next 5-10 years in this sector.
I watch the top 5 Canadian producers with a good business model and good liquidity. Now I can safely buy and hold, trade or rotate. Nothing fancy required. It’s a bull market after all.
I like my charts naked. Trend. Price. Volume. Have a look: Simplified from the beginning.
It’s a raging bull. Denial is in Egypt. The boat has not been missed. It’s still in port.
There are very few quality producers. The valuations are going to be insane.
Here’s the line up:
CGC: (The leader) has changed symbols to WEED. Brilliant. Probably an MBA. What creative genius. For traders too stoned to remember the fricken’symbol?
APH: Beautiful. (I am too stupid to own any)
OGI: Stabilizing after pesticide contamination scandal.
EMC: Still very new and finding price…the future leader in pharmaceutical dosages.
SL: Been holding heavy. Waiting for sales licence delivery and first revenues from stored product. This has tremendous upside potential. Hoping to make my year right here right now. American chart used for simplicity.
It’s a bull….no bull.
But these are dull times. No catalysts of significance until possible spring legislation is tabled in the house of commons. It is individual company tales that will cause movement. Here is where DD can serve you just as well if not better than the charts.
Proof of a bull market will be these stocks continuing to rise over the next few months.
Lets get to it:
SL was last weeks pick and good for a 10% pop. There was a buying panic on Fridays close. Something seems to be up. Probably the license to sell product is about to be issued. I still think the most upside in the near term is right here. Might be another pop Monday morning. My top pick again. I have a huge position and am digging in my heels.
EMC This thing is a beauty. I will try and get back in at some point.
APH The first LP to show 2 consecutive profitable quarters. A miracle this early in the game. Solid.
CGC Back to sleeping soundly. Still being punished for running too far too fast.
OGI This weeks disaster. The pesticide story is getting uglier. Best to avoid until things get fixed. Could be more pain ahead.
It’s early in the year but I’ve already racked up enough base hits for a month in the Caribbean. I’m tired, my nerves are shot and I’ve lost my sense of humor. I need this. I’m holding my position until my return. The next publication of Washer’s Weeds will be Feb 18th. Good luck and safe trading.
Up we go. Reluctantly. Little volume.
Most were expecting further downside but this weed bull won’t have it.
Barely a full trading week but constructive.
Here’s what happened:
ACB was dropped from the line up. I can not in good conscious encourage any one to touch this thing. More hype than substance, trading on momentum…..looks like pets.com. People could get hurt badly. I could be wrong but who need the extra risk? It has been replaced by SL (Supreme Pharmaceuticals). It trades on the Mickey-Mouse CSE but is any thing but. DD has me drooling and it is now my biggest holding. Stockcharts won’t help us so it’s prison-cam time:
EMC: Our stick armed model of the month. She’s a hottie. Resistance is futile.
CGC: Godzilla is awakening and climbing out of Tokyo bay.
APH: The rock of Gibraltar.
OGI: The only organic producer was found to have pesticide in its product. Ooops! We found bacon in the Rabbi’s fridge! Punished by the congregation. Last week’s easy and obvious scalping opportunity.
Cave drawings and personal bias have me chomping at the bit to buy miners here and now.
But alas, I am but a pot head who expects better returns staying put.
I have dumped my entire position in ACB for a 7 cent gain. It may get dropped from the line up.
Rotated into OGI.
Back to our reg programming…
Happy Frickin New Year!
This was the first trading week of 2017 for Canadian stocks. The weed action was light but positive.
I am certain that a generational bull market has begun in cannabis producers. It is fundamentally obvious. The charts all point in the same direction. I am going to trade this thing for the next 10 years.
The lack of interest here only reinforces my belief. No one really believes it yet. Perfect.
Here is the line up:
My pick from last week. I was fully in. My only holding. I dumped on the first session of the year pop then re bought the dump yesterday and sold before close. Base hits win games. Home runs are rare. No idea where this going in the short term.
My pick for this week. I loaded on the close yesterday. My favorite for scalping. Great liquidity. Coiling for a pop. Under 2.00 doesn’t seem possible anymore. That has been tested to death.
The big Kahuna. Still feeling for a bottom. Still lots of air before hitting the weekly trendline. Acting as a drag on the others. Low volume. No worries for now.
Solid. Boring. Profitable. Damned profitable.
Another miserable week of downward churning. Low year end volume makes this meaningless in the grand scheme. This thing is going to rip in 2017. We are very early in the game. I’ve redrawn some trend lines to make the bull look healthier and my self look smarter.
Here is the line up:
Me thinks this will be the big winner in 2017. Low share count, great management, great business plan. Brutal IPO but not worried.
The red haired step child. Beaten silly. Great for day trading.
The industry leader. Has had it’s 50% retrace. Where it goes the others follow.
Still behaving nicely:
What ever your beliefs, what ever your traditions, have a great celebration!
Task force report finally made public. No surprises. We will have our recreational market. Sell. Early entry multi baggers sitting on huge profits. Sell. Late entry bag holders sitting on huge losses. Sell.
Dec 23rd last day for tax selling. Sell. Nobody waits until the last day. Sell.
That might have been it.
I am taking MT out of the rotation (It will be absorbed by CGC soon) and replacing it with EMC
Here is the line up:
Still holding weekly trend:
The money destroyer: (my money)
The new IPO/money destroyer (my money) and my new largest holding.