Filter THIS! There’s no “I” in marijuana stocks. Wait…

Today”s filter is… There”s no “I” in marijuana stocks.

Wait.

There”s no upper-case I. Well, so long as the word isn”t spelled entirely in upper-case. Okay, there”s no “you.” There”s a “u,” which I suppose would work phonetically.

Look, my point is that marijuana stocks don”t know where you bought them. They don”t know whether you”re sitting on a profit or a loss, whether you”ve averaged up or down, if this is the third time you”ve made a stab at picking a pullback”s bottom…

We”re trading the stocks, not buying the companies. I”m in favor of allocating part of one”s longer-term portfolio to buy-and-hold for the sector”s longer-term upside potential. But here we”re trying to exploit the unusually wide intraday and weekly swings this sector has been displaying.

If you have a pullback target in mind, which the stock reaches, and you dutifully buy it there — don”t expect the stock to uphold its end of some secret pact by suddenly reversing back upward relentlessly. Or, if you have been waiting for a specific target price to be reached before peaking, so long as a specific pullback price were to hold, and one or the other is touched or pierced — then don”t rest assured that the stock will return to whatever past price you might wish you had sold earlier.

When you make the decision to get in, make the next two decisions about when you”re going to get out. How high will you ride a rally, and how low will you tolerate a reaction down. Stocks don”t necessarily wait for us to decide what prices we want after they”ve already been there.

There”s not always a “do over” in marijuana stocks. Actually, let me just check that…

Yep, not a lot of those.

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?