Bigger Picture

Today”s filter is… Freedom.

Janis Joplin tells us that freedom”s just another word for nothing left to lose. To the first American generation, freedom was about what we could keep.

America”s founding generation thought we must determine our own freedoms, that freedoms granted to us are not freedoms at all. The right to self-determination, the rights of property ownership, the right to our beliefs and the right to be left alone. Now, many generations later, these have become luxuries which we enjoy when convenient to whomever is administering them. 

With Colorado allowing recreational use, along with Washington state and soon many others, is the trend changing again? Don”t get too excited, yet. Perhaps this is just an anomaly, or a temporary permit, that we”re being allowed greater freedom over what we put into our own bodies, and over what we sell and buy between each other.

Actually, Janis, freedom”s just another word for responsibility, and for opportunity. Now, Joplin”s drug culture economy is being legalized. Does a couple of generations in time and the ability  to trade stocks ensure that we will be more responsible with the freedom? It should.

Being a chartist, this week”s WeedStock presentations weren”t influential to me. But I was very impressed on a different level by the CEO of Abattis Bioceuticals, whose talk during Tuesday”s brunch included a pitch for responsibility. His plea was directed toward other companies for exercising best practices. But everyone in the room — not just  entrepreneurs and innovators, but  investors and traders — has a stake in the industry”s viability. And the viability of this business is only as secure as the perception of it being conducted responsibly.

This movement is an awesome opportunity on so many levels to reclaim our individual rights to self-determination, to our beliefs, to be left alone. Rarely do we lose our freedoms for not defending them. More often it is because we did not exercise them responsibly. That will be threatened by many high-profile negative stories which will follow inevitably. But we can limit them by creating, praising and sharing endless examples of responsible best practices.

There is so much growth potential here. We have the awesome freedom to shape this industry for generations to come. Those generations will share our freedoms to the same degree that we enjoy those freedoms responsibly.

So, here”s to our freedom… Happy responsibility day. Happy opportunity day. Happy Independence Day.

Chicken and egg: Which produced which? A number of extreme multi-session rallies this week have made it difficult to extend higher in today”s abbreviated session in a holiday-shortened week… or… this holiday-shortened week forced a number of multi-session rallies to run their course before running into today”s illiquidity.

Either way, you”re stuck with both the chicken AND the egg. And a lot of MJ stocks doing very little today.

Let”s do a Livedesk at 11:00 ET anyway. Join me at the following link to discuss any MJ movers, and then to do instant analysis of your stock requests. (Bring plenty, I think we”ll have the time.)

11:00 ET —
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/

Welcome to Open”s Interest for Thursday…

(Setups and parameters are below)
This week”s Universe || Last Open”s Interest  

Wednesday”s Livedesk was one hour long, and covered many MJ stocks. Be sure to check it out for ideas and levels beyond those discussed below…

TAUG bounced Wednesday off of my .0425 pullback limit and spent the afternoon ranging around .048. That isn”t optimal for extending the bounce, so be careful if long.
VPOR extended above resistance, forming an Ascending Triangle that should spike up at Thursday”s close if the rally”s momentum remains intact.
ATTBF bounced from its opening dip to .55 where I was considering to buy, and even touched a .51-cent handle where the pattern”s stop would trigger. But that was the product of a high-volume opening plunge that often either repeats, or else remains stuck for awhile.
VAPE closed under its 2.85 stop, suggesting that the rally”s momentum has lapsed. Immediately recovering 3.00 would reinstate the rally”s momentum.
ERBB may be up to its old tricks, surging at the open and drifting downward through the balance of the session. A post-close report of 1.5m shares below the market must be rejected at Thursday”s open to avoid drifting even deeper into the weekend.

Speaking of which, this is not only a three-day holiday weekend, but the session closes early at 1:00pm ET. I”m already reluctant to buy on Fridays, and would be only more discerning in this situation. But I wouldn”t go deeper into July without some exposure when Washington is coming

…
Enjoy!

Breakout
(consolidations or basing that is forming an accumulative pattern )

Up/Down-Crash
(extended trending with only 1-2 countertrend closes, ready to snap back)

Pullback Limit

(breakouts and bounces that have retraced 61.8%…

these situations are often make, or break)

Bottom Fish

(basing after extended decline — not really a “trade”)

(breakdown unconfirmed a 2nd day — only buy strength)

Third-day Surge

(2-day surge to fresh highs at risk of peaking — don”t chase higher)

Not a Charm

(third test of retested low, triangle — lower lows coming?)

Falling Knife

(trying to catch the reaction to a steep drop — ouch)

Rocket Launch

(sudden explosive interest that gains traction)

Monitoring

(observations of other stocks of interest)

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.

An hour-long Livedesk is now concluded, and linked below. Following are the MJ stocks covered. All non-MJ stock requests were also covered in order following that:
VAPE, ENRT, ATTBF, AGTK, MINE, SRNA, VRCI, BRDT, CARA, GWPH, AERO, CBIS, MCIG, NVLX, GBLX, TWMJF, GRNH, MDBX, FITX, MNTR, INSY, CANN, RSSFF, EDXC, TRTC, ERBB, BPOR, TAUG, FSPM, PLPL, NTRR, EAPH, CBDS, PLPL, NTRR, CYBK… non-MJ: ISIS, ONCS, SLXP, QTMM, AXXU
http://new.livestream.com/accounts/7617211/events/2865745/videos/55506218

Livedesk, if memory serves me, is a 30-45 minute interactive session that allows me to use real-time charts for answering subscribers” questions* about any stock of interest. That stock can be in the MJ sector, or not.

We”ve got a lot to cover. A LOT. Please note that “XYZ” is a symbol, and not a question. So, my apologies in advance, but I”ll need to skip ahead for questions. Please post your questions in advance to the Open”s Interest thread, where I see some questions already posted.

Anyway, here”s the link. Shall we say, 11:00 ET? Yes? See you there!
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/