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Filter THIS! About last night… – If, Then… Market Timing

Filter THIS! About last night…

By Rod David | November 5, 2014 - 7:53 am

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?

Posted in Bigger Picture