The Universe, week of December 14 2015… Cutting losses.

By Rod David | December 12, 2015 - 4:20 pm |

[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.]

Tax loss selling pressures are in full swing in the Cannabis sector. Downswings. And not just back down to prior lows, but trending under prior lows. And then trending down further.

This is artificial selling pressure, having nothing to do with operations and earnings. It still pressures price down, but it also has a shelf life. Tax loss selling for 2015 ends when 2016 begins.

Removing that unusual selling pressure suddenly gives the usual buying pressure greater impact. This is called the “January Effect.” I’m already seeing 2-3 issues seeming to bottom as they discount this eventuality.

Marijuana Stock Universe for December 14, 2015
Reference this table during stock reactions
4-week	# up:	11	11.00%
trends*	# flat:	9	9.00%
	# down:	80	80.00%
*The percentages of stocks rising or falling over 4 weeks.

symbol	support	resistance	4-week trend
ACGX	0.000	0.003	down
AERO	1.000	1.950	down
AGTK	0.000	0.004	down
AMMJ	0.140	0.290	up
ARNA	1.650	2.200	down
ATTBF	0.035	0.075	flat
BLOZF	0.087	0.163	down
BLPG	0.015	0.086	down
BRDT	0.012	0.031	down
BTFL	0.002	0.005	down
CAFS	0.001	0.011	down
CANL	0.250	0.500	down
CANN	0.350	0.770	down
CANV	0.169	0.440	down
CARA	14.250	18.870	up
CBDS	0.510	1.850	down
CBGI	0.000	0.005	down
CBIS	0.015	0.023	down
CGRW	0.360	0.610	flat
CHUM	n/a	n/a	down
CNAB	0.150	0.330	down
DEWM	0.002	0.004	up
DIGP	0.120	0.220	down
DSCR	0.000	0.025	down
EAPH	0.003	0.006	down
EDXC	0.007	0.019	down
ENCC	n/a	n/a	down
ENDO	0.006	0.018	down
ENRT	0.015	0.025	flat
ERBB	0.001	0.003	down
ETST	n/a	n/a	down
EXMT	0.000	0.004	down
FITX	0.004	0.078	flat
FSPM	0.000	0.250	down
FULL	2.470	2.860	down
FWDG	0.000	0.002	down
GBLX	0.210	0.320	down
GRCU	0.000	0.004	down
GRNH	0.015	0.037	down
GWPH	71.600	86.400	down
HEMP	0.050	0.107	down
ICBU	0.000	0.003	down
IGRW	0.000	0.002	down
IMLFF	0.110	0.180	flat
INCC	0.000	0.002	down
INSY	26.400	34.950	up
ITNS	0.001	0.005	down
KAYS	0.067	0.187	flat
LATF	0.000	0.001	down
LXRP	0.180	0.280	up
MCIG	0.017	0.030	down
MDBX	0.003	0.033	down
MDCN	0.000	0.001	down
MDRM	0.025	0.060	up
MINE	0.000	0.002	down
MJMD	0.000	0.015	down
MJMJ	0.000	0.001	down
MJNA	0.036	0.048	up
MNTR	0.220	0.036	down
MSRT	0.830	1.410	down
MYEC	0.014	0.021	flat
MYHI	0.013	0.100	down
NDEV	0.016	0.053	down
NMUS	0.218	1.215	down
NRTI	0.000	0.002	down
NTRR	0.500	1.400	down
OGRMF	0.510	0.920	up
OSLH	0.000	0.001	down
OXIS	0.009	0.019	down
PHOT	0.004	0.014	down
PLPL	0.053	0.121	down
PMCB	0.072	0.098	down
PNTV	0.001	0.007	down
PZOO	0.000	0.002	down
QEDN	0.000	0.003	down
REDG	0.000	0.003	down
RFMK	0.000	0.002	down
RMHB	0.040	0.088	down
RSSFF	0.030	0.100	up
SING	0.005	0.012	down
SKTO	0.000	0.004	down
SPRWF	0.220	0.330	up
SRNA	0.074	0.120	down
STEV	0.022	0.039	down
TAUG	0.001	0.004	down
TRTC	0.082	0.118	down
TURV	0.463	0.770	down
TWMJF	1.800	2.400	up
UPOT	0.030	0.075	down
USEI	0.000	0.003	down
VAPE	0.003	0.023	down
VAPR	0.000	0.050	down
VGPR	0.000	0.002	down
VHUB	0.025	0.048	down
VPCO	0.070	0.260	down
VPOR	0.000	0.001	down
WDHR	0.000	0.002	down
WOGI	0.001	0.004	down
XTRM	0.001	0.004	flat
XXII	1.060	1.440	flat

Posted in Bigger Picture

22 Comments

fennecby on December 15, 2015 - 9:56 am at 9:56 am

Hey Rod.
Should I sell into the pump on XXII, or is this looking like a credible bump?
(currently waiting to see if it closes over your 1.45, assuming that if it doesn’t on this kind of buying pressure then it probably won’t later either).
- Rod David on December 15, 2015 - 11:05 am at 11:05 am
  
  XXII — I’m not bearish the stock, so testing resistance is probably chipping away at it, and not just completing a corrective bounce before resolving in lower lows. Also, today’s volume is very healthy (that’s not from your orders, is it?)
  - fennecby on December 15, 2015 - 11:17 am at 11:17 am
    
    LOL. and thanks.
    INSY looking pretty good, and with a lot of shorts trapped, I’m guessing, seeing as the concerted efforts to kill it have hardly been effective…
casjf on December 15, 2015 - 11:58 am at 11:58 am

SUNE – You were hoping for another touch of 2.80 — how likely is this at this point? If not likely, are you liking this chart better — as in buying some :)
- Rod David on December 15, 2015 - 12:12 pm at 12:12 pm
  
  SUNE — I would have been more open to buying an attack on the lows. Nothing prevents a corrective bounce, which this current rally leg may be. At 5.05, there will be pullback potential to 4.05-4.30, and any lower would start to unravel the rally.
casjf on December 15, 2015 - 2:38 pm at 2:38 pm

ABCD – support & resistance
- Rod David on December 16, 2015 - 7:55 am at 7:55 am
  
  ABCD — 5.65-5.80 is resistance, and closing above it on expanding volume (which has been contracting for awhile) would signal the rally had resumed, probably targeting 7.25. Closing first under 4.25 could extend to 3 before recovering
Josey on December 16, 2015 - 9:40 am at 9:40 am

Todays GLD gap up, does it need to be filled. TY
- Rod David on December 16, 2015 - 9:41 am at 9:41 am
  
  GLD — Good question. The gap doesn’t require being filled. I suspect that it might be filled, anyway. That’s largely based on Silver’s gap up requiring a retest of yesterday’s lower close, and also a new low close (not necessarily today).
casjf on December 16, 2015 - 9:50 am at 9:50 am

SUNE – So much for yesterday’s trading plan — up with the whole solar contingent pre-market, now on it’s way down for who knows how long — how to play this stock?
Josey on December 16, 2015 - 9:50 am at 9:50 am

UPS, time to enter long, or to late, just filling the gap? TY
- Rod David on December 16, 2015 - 11:35 am at 11:35 am
  
  UPS – I would consider shorting 101.50 for a reaction down to new lows under 93.
casjf on December 16, 2015 - 10:25 am at 10:25 am

EYES – support & resistance
- Rod David on December 16, 2015 - 1:34 pm at 1:34 pm
  
  EYES — Above 6.50 would target 8.33.
joe on December 16, 2015 - 3:16 pm at 3:16 pm

Well, SUNE certainly moved up today. How does this stock look for entry at this time, or time to wait for a pullback?
- Rod David on December 16, 2015 - 3:35 pm at 3:35 pm
  
  SUNE — This big move is still in a downtrend of lower lows and lower highs. I said during Livestox that any move it makes will be huge in % terms, but I still regard it as a pre-January Effect move.
Josey on December 16, 2015 - 3:37 pm at 3:37 pm

GLD today looks like a triangle, false break up and now crossing through to the downside? 1 and 3 min.chart.
casjf on December 16, 2015 - 4:02 pm at 4:02 pm

SUNE – Suggestion for a good buy-in price for SUNE for tomorrow?
casjf on December 16, 2015 - 4:05 pm at 4:05 pm

SUNE – Oops — sorry my screen apparently hadn’t refreshed — just saw your comment to Joe below. What price would this need to cross to show a positive progression, accompanied of course by volume?
casjf on December 17, 2015 - 10:35 am at 10:35 am

DIS – support & resistance
fennecby on December 17, 2015 - 11:12 am at 11:12 am

DDD – is this a durable bottom we’re breaking out of, or does it need to close above the November bottom first?
casjf on December 17, 2015 - 11:13 am at 11:13 am

CLVS – support & resistance