Bigger Picture

I will be away from the screens for today”s last 90 minutes beginning at 2:30 ET. Please be sure to post specific questions for any stock charts to this thread before then.

In Wednesday”s Livestock, we reviewed the following stocks, and also digressed momentarily on the oxymoron of trading with unsettled funds:

VPOR, Example of double-digit percentage move that is irrelevant.
FITX, Still targeting .02
CBIS, Pullback holding .065 keeps alive the bigger rally that would resume by closing above .08.
HEMP, Forming a Head & Shoulder pattern, which is often only a temporary detour back down.
TRTC, Intraday test of .38 support that closes back above .405 would suggest the pullback had ended.
GBLX, After fulfilling its 1.45 target, pullback needs to hold $1 support, and close above 1.25 to resume the rally that would next target 1.90 and 2.20.
ATTBF, Closing above .28 would take off the table my longstanding .17 target.
ERBB, The broken Ascending Triangle pattern needs to hold .0168 support and recover .022 to resume the rally.
SRNA, Still concerned that the recent high volume was a telltale sign of manipulation, but would give it a benefit of the doubt so long as .45 holds as support.
MCIG, Close above .28 is the next possible bullish development, in a string of several others.
TAUG, Recent strength is probably just a tease, but closing above .0202 could at least test .27.
NLNK, Wouldn”t buy lower close into earnings, and would like to assess its reaction before proceeding.
INSY, Pullback has room down to 34.50-35.40 while still being an uptrend, which requires recovering 39.30-39.50 to resume.
GWPH, Recent narrow ranging offers zero predictability, monitoring for a signal or setup.
VPCO, Consolidating its recent breakout, still a January Effect candidate despite recent run-up.
VAPE, Extended ranging is uncomfortable for this stock, recovery must hold above 1.25 and extend through 1.43 with the least further delay.
TWMJF, Monitoring for any follow-through to the recent strength that might suggest the decline has actually ended.
CNAB, Holding up relatively well considering the sector, still a January Effect candidate.
STEV, Credible buying in reaction to the day”s press release, but still needs to close above .0965.
TKMR, No accumulation patter currently, but monitoring.

The video of this afternoon”s Livestock is uploading now. We reviewed the following stocks, and also digressed momentarily on the oxymoron of trading with unsettled funds:
VPOR, FITX, CBIS, HEMP, TRTC, GBLX, ATTBF, ERBB, SRNA, MCIG, TAUG, NLNK, INSY, GWPH, VPCO, VAPE, TWMJF, CNAB, STEV, TKMR, BREW, CHUG, TAP, and HEAD.

Livestock starts at 2:00pm ET. 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/

Today”s one thing is… About last night.

Last night”s vote was mixed. Decriminalization here, legalization there, neither here…

Wednesday”s price action in the Marijuana sector will be mixed. Hopefully, mixed directionally, and not a mixture between single-digit and double-digit declines across the board.

It”s not that declines wouldn”t represent opportunities. But the sector”s recovery can”t tolerate too deep of a reaction down. Inhibiting new buyers is only one risk. Driving prices back to recent lows would threaten triggering new downlegs.

At this stage, nothing has changed from my comments in this week”s The Universe: “another round of selling would be that much more assured of recovering, for having originated from a position of strengthening.“

I”ll reserve specific judgement until actually seeing this morning”s action. We”ll review the reactions during Wednesday”s noon hour Livestock.

Filter THIS! …is a missive that tells you one thing, the most important thing, if you had to filter your view of today”s marijuana stocks price action through just one thing — okay, sometimes two — what would that one thing be?