Filter THIS! Tabula rasa and Carte blanche.

Today”s filter is… Tabula rasa and Carte blanche.

Clean slate and Blank check. The two cannot be confused with each other. They do share one thing in common, and that is exclusivity. A clean slate is not clouded by previous etchings on the slate. And a blank check doesn”t represent any other value but what it has yet to purchase.

Friday I sold both profitable and unprofitable positions alike. All were failing to hold relevant supports — some not until Friday, but all had been declining. The profitable positions had been much more profitable previously, and the unprofitable positions had returned gains they made immediately after their purchase.

I did this to have a singular focus on Monday morning. Period. I”m not bearish on the marijuana sector, not one bit. Anyone reading that into the move is not reading the comments I made with each sell order. I am eager to put the money back to work this morning.

Probably not all of it. While the broader market”s weakness has extended down overnight, it isn”t yet crushing speculative premium. And two or three news items this weekend may attract new buyers to delay the opening dips I wanted to exploit. And still want to exploit.

But this morning”s action is a little less likely to gap down sharply and then trend down much further as falling prices attract capitulation. Gaps up can attract selling pressure too. The proof will be in whether any prices run higher through the morning, and small opening dips are recovered. 

Any less bullish behavior would remain vulnerable. We”ll keep tracking the breakouts (BO) identified in the Need to Know videos, and also assess any recovery attempts this afternoon.

Filter THIS! …is a pre-open 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?