Filter THIS! Chew your food.

Today”s one thing is… Chew your food.

I shared two observations in this week”s The Universe. First, the percentage of Marijuana sector stocks in an uptrend hasn”t been this high since tracking the metric. Second, the percentage of uptrends vs. downtrends is also reading its best yet.

This bar chart portrays the ratios. Green is the uptrends, and yellow is the percentage of covered stocks that are flat and ranging. A couple of other observations might jump out while visualizing the data.

– The percentage of uptrends is still half that of downtrends.

– The percentage of downtrends is not at its weakest point.

So, optimism has been more influential recently. And, why not. Tuesday”s elections offer the potential for a positive news cycle from legalization / decriminalization initiatives. Headlines would likely attract more buyers. Bear market mentality could soon turn into Bull.

Just a word (or two) of caution: Suddenly higher prices become attractive to the same selling mentality that pushed price to recent lows. Chasing the rally might not be necessary in even the most bullish scenario, not if last-minute selling creeps in.

Also, rising prices have discounted an optimistic future, not cemented it. Tomorrow”s favorable news is reflected in price, discounted by the odds of losing some or all of the votes. The strongest of moves rarely develop in a single gulp — rather, the market savors them.

Finally, a clean sweep doesn”t immediately drop down to the entire sector”s bottom-line. The past several weeks have been buying the anticipation. Now comes the news…

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?