The Universe, week of Aug 3 2015… Only the weak get weaker.
Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]
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Last week”s Universe ||
Prior week”s Universe ||
Previous week”s Universe ||
This week”s issue of Barron”s magazine is out this morning. One of its weekly columns tackles an interesting subject. That is the broader market”s “breadth.” Whether comparing the number of issues rising to declining, the number of new highs vs. new lows, the percentages of stocks above and below various moving averages… the market is suffering from very bad breadth. (Get it? Bad breath, bad breadth?)
The columnist should look at the Cannabis sector. Or, not.
This has been the case for the broader market for some time. Which is one reason why I”ve been viewing it as forming a broader top. And a big reason why I urge everyone to learn about bearish index ETFs and short-selling.
But breadth is not a timing tool. Big turns don”t happen quickly. It”s the world”s largest game of Musical Chairs, and its players know how to stretch out each round. The broader market stays afloat through “rotation” among sectors, where fewer take on the mantle of leadership. Eventually, fewer components of fewer sectors are leadership, and the game ends on account of too few chairs remaining.
The Cannabis sector”s leadership has been to the downside. Not bigger cap stocks like CARA, GWPH and INSY, but smaller and microcaps. Their winners have been exceptions. And its winners at any given time have largely proved only to be temporary bounces.
Patience and stalking for our own bottoming candidates have continued doing well. The most recent was TRTC, which spent only two days at its sub-.09 target before beginning a one-week surge that doubled it. (and you know what I say about penny stocks that double, right?) The latest pattern to suggest it”s forming such a bottom is SRNA.
Last week”s major Cannabis sector revisions were few. Not just the percentages of stocks above or below 4-week moving averages, but also those closing under support. The majority of new lows have been among microcaps. Stability is not a buy signal. But there were even a couple of resistance recalculations to make. More of that would start being bullish.
SPECIAL OFFER: I”m re-opening my market timing chaRTroom to my stock subscribers for a free week. No cost and no registration required. Just message me on the system.
| Marijuana Stock Universe for August 3, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 7 | 6.86% |
| trends* | # flat: | 10 | 9.80% |
| # down: | 85 | 83.33% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 1.530 | 2.440 | down |
| AGTK | 0.000 | 0.009 | down |
| AMMJ | 0.125 | 0.272 | down |
| ARNA | 3.800 | 5.030 | down |
| ATTBF | 0.035 | 0.075 | down |
| AVTC | 0.000 | 0.400 | down |
| BLOZF | 0.130 | 0.340 | down |
| BLPG | 0.015 | 0.086 | down |
| BNRDF | 0.600 | 0.740 | flat |
| BRDT | 0.012 | 0.048 | down |
| BTFL | 0.071 | 0.232 | down |
| CAFS | 0.001 | 0.011 | down |
| CANL | 0.750 | 1.250 | down |
| CANN | 1.000 | 2.440 | down |
| CANV | 0.860 | 1.640 | down |
| CARA | 18.300 | 23.550 | up |
| CBDS | 1.830 | 5.630 | down |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.015 | 0.029 | down |
| CGRW | 0.360 | 0.610 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.320 | 0.750 | down |
| DEWM | 0.001 | 0.003 | down |
| DIGP | 0.235 | 0.465 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.005 | 0.011 | down |
| EDXC | 0.019 | 0.047 | down |
| ENCC (axxu) | n/a | n/a | down |
| ENDO | 0.006 | 0.018 | down |
| ENRT | 0.017 | 0.037 | down |
| ERBB | 0.002 | 0.004 | down |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | up |
| FITX | 0.002 | 0.006 | down |
| FSPM | 0.000 | 0.250 | down |
| FULL | 3.060 | 3.660 | down |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.270 | 0.460 | flat |
| GRCU | 0.000 | 0.004 | down |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 101.550 | 132.000 | flat |
| HEMP | 0.011 | 0.018 | down |
| ICBU | 0.000 | 0.003 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.100 | 0.180 | down |
| INCC | 0.000 | 0.001 | down |
| INSY | 46.150 | 46.750 | up |
| ITNS | 0.003 | 0.007 | down |
| KAYS | 0.067 | 0.187 | flat |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.098 | 0.205 | flat |
| MCIG | 0.035 | 0.074 | down |
| MDBX | 0.073 | 0.130 | down |
| MDCN | 0.000 | 0.001 | down |
| MDRM | 0.016 | 0.051 | flat |
| MINE | 0.002 | 0.005 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.001 | 0.003 | down |
| MJNA | 0.041 | 0.055 | down |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.012 | 0.027 | down |
| MYHI | 0.013 | 0.188 | down |
| NDEV | 0.016 | 0.053 | down |
| NMUS | 0.620 | 1.600 | down |
| NRTI | 0.000 | 0.002 | down |
| NTRR | 0.022 | 0.046 | down |
| OGRMF | 0.250 | 0.337 | down |
| OSLH | 0.001 | 0.005 | down |
| OXIS | 0.015 | 0.027 | down |
| PHOT | 0.010 | 0.030 | down |
| PLPL | 0.150 | 0.220 | down |
| PMCB | 0.080 | 0.129 | down |
| PNTV | 0.001 | 0.007 | down |
| PZOO | 0.005 | 0.013 | down |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | down |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.030 | 0.100 | down |
| SING | 0.005 | 0.012 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.107 | 0.165 | down |
| SRNA | 0.040 | 0.090 | down |
| STEV | 0.038 | 0.058 | down |
| TAUG | 0.000 | 0.005 | down |
| THCZ | 0.051 | 0.013 | down |
| TRTC | 0.135 | 0.235 | up |
| TURV | 0.710 | 1.11 | up |
| TWMJF | 1.420 | 1.860 | flat |
| UPOT | 0.150 | 0.550 | down |
| USEI | 0.000 | 0.003 | down |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 0.315 | 0.470 | down |
| VAPR | 0.000 | 0.050 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.036 | 0.066 | up |
| VPCO (1:5) | 0.663 | 1.960 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.010 | 0.022 | up |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.710 | 0.950 | down |