Bigger Picture

Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]

Links to || Last week”s Universe || Prior week”s Universe || Previous week”s Universe ||

If there”s any one thing that I love about the markets, it is that they continually surprise me. And if there is any one thing that I hate about them, it is the same thing.

I”m not surprised that many of the marijuana sector”s stocks have extended down so deeply into year-end. But the percentage is somewhat surprising. And so is the duration — that is, for so many issues to still be probing new trend lows with December already underway.

So, there isn”t yet any rotation out of laggards and into leaders. There are no leaders. And there seems to be no price too cheap for more shareholders to decide that monetizing their loss into a tax benefit is worth more than holding onto a lottery ticket.

Perhaps the balloon”s air isn”t being heated, so there”s nothing to create lift. But it won”t require much since all of the ballast must have been jettisoned by now, or nearly so. The proof of that will be in whether the Christmas is greeted by prices bubbling up here, there, and… no, not everywhere… and New Year”s is repeating some of last year”s performances.

Starting at 1:45pm ET —
Are you free for a few minutes? Join me at the following link to try an alternative web conferencing platform I”ve been reviewing. I encourage logging in via iPad or Tablet, and by iPhone or Android. Boring old computer access is fine, too. I guess. Whatever.
https://www.anymeeting.com/006-854-251

Thursday morning”s Livestock reviewed January Effect candidates before moving on to address several Marijuana sector stocks (ATTBF, SPRWF, TRTC, MCIG and VAPE). 

The following requests were also addressed (time stamped on the video): VSUL (21:20), CELG (24:05), CLR (25:00), GWPH (26.33) and TKMR (29.09).

FYI — I am testing another webinar application that seems much less unwieldy than what we”re using now. I”ll invite subscribers to help me test it tomorrow afternoon.

Enjoy!

This morning”s Livestock starts at 10:45am ET, and ends at 11:30. We”ll review the January Effect candidates and update their actionable parameters. Any relevant action among the Marijuana sector will be spotlighted, too. We”ll also include instant analysis of your chart requests.

Login info: (iPads and Tablets use the accompanying teleconference info to get audio.)
https://roddavid10.mitel-nhwc.com/join/pcxsrhm

optional teleconference instructions (required for iPad and tablets):
1-605-562-0020
Meeting ID 976-912-682 #
Other requirements can be found here:
http://marketfy.com/product/stock-technical-trade-alerts/blog/1143/view/60141/

Sorry! Due to a last-minute scheduling conflict, our real-time interactive Livestock is delayed until tomorrow morning. Same bat time, same bat channel. Meanwhile, post analysis requests to this thread…

I”ve commented already this morning on other issues, including TRTC”s high-volume opening surge to .38. Holding .355 on a dip and bouncing sharply from its test would

Also, GWPH is bouncing $6 from 67.95 support to test 73.95. Closing any higher would next target 76.90. Closing today under 72.15 would confirm the bounce is only a temporary correction on the way to at least 63.50.

WLT went out yesterday testing its pullback limit. A slightly lower opening dip has been reversed into positive territory. Closing positive is the minimum requirement to suggest the dip has ended.

GSK is gapping down to test “lower prior highs” from before Thanksgiving. Closing above 46.85 would be optimal to signal the dip was absorbed.