The Universe, week of October 13 2014
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.]
Links to ||
Last week”s Universe || Prior week”s Universe || Previous week”s Universe ||
A
documentary of the 1987 stock market crash is playing on one of my other monitors as I write these comments. It”s really about the crash”s rescue, thanks to risk takers who step in front of bullet”s path. They were relying on general principles of the marketplace still having some relevance when no one was certain the marketplace would continue to exist.
I”ve been reading a lot already this weekend, and intend to read much more, about the 1987 crash. I was there in real-time, but can always use a refresh on the nuances and timing of different intraday events. Things like Gold being up strongly on Monday out of fear, and down sharply Tuesday to cover equity calls elsewhere. Delayed opens, wide spreads, uncertain fills…
The reason for the refresher is the broader market”s ongoing decline. Last week”s volatility reminded me very much of the week or two into October 16, the Friday prior to the crash. Friday afternoon”s slide to new lows was identical, too. Another crash, or another crash setup that the market usually finds a way to absorb and to reverse? Ask me again Monday afternoon. For now, I”m preparing.
Marijuana stocks” universe doesn”t generally overlap with the world that causes or effects crashes and their consequences. But they don”t exist in a vacuum. Plunging financial assets is not like a broken leg that needs to be set, but like a flu that the entire body feels. If the decline persists — at any pace, whether crashing or sliding — Marijuana stocks will hurt, too.
As we discussed in this week”s
January Effect webinar, extending the broader market decline”s could force/allow Marijuana stocks to find a near-term bottom and bounce. The first bounce is usually short-lived, and the second bottom is harder to buy. Regardless, extending this decline at any pace — instead of it reversing immediately and delaying the inevitable — would be a game changer. With few exceptions, the most profitable game in Marijuana stocks has been patience. It might not be too long before that game changes.
Enjoy!
| Marijuana Stock Technical Trader”s Universe for October 13, 2014 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 8 | 8.08% |
| trends* | # flat: | 18 | 18.18% |
| # down: | 73 | 73.74% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACAN | n/a | n/a | down |
| ACGX | 0.002 | 0.004 | flat |
| ADCS | n/a | n/a | down |
| AEGY | n/a | n/a | flat |
| AERO | 2.600 | 4.080 | down |
| AGTK | 0.070 | 0.118 | down |
| AMMJ (bimi) | 0.500 | 1.070 | down |
| ANAS | 0.000 | 0.003 | down |
| ANYI | 0.005 | 0.013 | down |
| ARNA | 3.460 | 4.080 | down |
| ATTBF | 0.250 | 0.330 | down |
| AVTC | 1.350 | 1.800 | down |
| BLOZF | n/a | n/a | n/a |
| BLPG | 0.350 | 0.760 | flat |
| BRDT | 0.162 | 0.217 | down |
| CALB | n/a | n/a | up |
| CANL | 0.960 | 1.500 | down |
| CANLF | 0.151 | 0.268 | down |
| CANN | 2.560 | 5.050 | down |
| CANV | 2.100 | 3.550 | down |
| CARA | 7.810 | 10.840 | down |
| CBDS | 6.980 | 10.170 | down |
| CBGI | 0.005 | 0.035 | down |
| CBIS | 0.055 | 0.072 | down |
| CHUM | n/a | n/a | down |
| CNAB | 0.460 | 0.860 | down |
| CTCO | 0.235 | 0.640 | down |
| CYBK | 0.005 | 0.015 | down |
| DEWM | 0.000 | 0.003 | down |
| DIGP | 0.360 | 0.760 | down |
| DSCR | 0.002 | 0.003 | up |
| EAPH | 0.013 | 0.022 | up |
| EDXC | 0.031 | 0.077 | down |
| EGRVD | n/a | n/a | n/a |
| ENDO | 0.023 | 0.040 | down |
| ENRT | 0.048 | 0.100 | down |
| ERBB | 0.015 | 0.023 | flat |
| EXMT | 0.000 | 0.004 | flat |
| FITX | 0.038 | 0.053 | down |
| FRTD | n/a | 0.008 | flat |
| FSPM | 0.090 | 0.450 | down |
| FULL | 5.300 | 6.300 | down |
| GBLX | 0.525 | 0.825 | down |
| GRCU | 0.006 | 0.011 | flat |
| GRNH | 0.088 | 0.135 | down |
| GWPH | 67.800 | 79.600 | down |
| HEMP | 0.023 | 0.052 | down |
| ICBU | 0.013 | 0.035 | down |
| IGRW | 0.000 | 0.017 | down |
| INSY | 38.100 | 44.500 | up |
| ITNS | 0.009 | 0.015 | flat |
| LATF | 0.001 | 0.003 | down |
| LXRP | 0.052 | 0.180 | down |
| MCIG | 0.215 | 0.299 | down |
| MDBX | 8.960 | 12.030 | down |
| MDCN | 0.219 | 1.020 | down |
| MDRM | 0.024 | 0.060 | down |
| MINE | 0.005 | 0.013 | down |
| MJMD | 0.030 | 0.180 | down |
| MJMJ | n/a | n/a | down |
| MJNA | 0.104 | 0.128 | down |
| MJNE | n/a | n/a | down |
| MLCG | 0.005 | 0.022 | down |
| MNTR | 0.660 | 1.767 | down |
| MYEC | 0.014 | 0.026 | flat |
| MYHI | 0.403 | 1.280 | flat |
| NRTI | 0.033 | 0.077 | down |
| NTRR | 0.108 | 0.209 | up |
| NVLX | 0.165 | 0.215 | down |
| OGRMF | n/a | n/a | down |
| OSLH | 0.010 | 0.022 | down |
| PAUFF | n/a | n/a | down |
| PHOT | 0.019 | 0.065 | down |
| PLPL | 0.245 | 0.366 | up |
| PMCM | 0.000 | 0.002 | down |
| PRPM | n/a | n/a | flat |
| PZOO | 0.013 | 0.026 | up |
| QEDN | 0.005 | 0.010 | down |
| REDG | 0.001 | 0.003 | flat |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.260 | 0.448 | down |
| SING | 0.011 | 0.017 | flat |
| SKTO | n/a | 0.004 | flat |
| SPRWF | 0.270 | 0.370 | up |
| SRNA | 0.577 | 1.558 | down |
| STEV | 0.079 | 0.139 | flat |
| TAUG | 0.012 | 0.020 | down |
| TRTC | 0.295 | 0.435 | flat |
| TURV | 0.782 | 1.12 | down |
| TWMJF | 1.493 | 2.040 | down |
| UPOT | 0.250 | 0.800 | flat |
| USEI | 0.000 | 0.003 | down |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 1.145 | 1.85 | down |
| VAPR | 0.041 | 0.110 | down |
| VGPR | 0.000 | 0.002 | down |
| VPCO | 0.835 | 1.830 | down |
| VPOR | 0.014 | 0.032 | down |
| VRCI | 0.009 | 0.025 | down |
| XTRM | 0.003 | 0.008 | down |
| XXII | 2.140 | 3.070 | flat |
| ZDPY | n/a | n/a | n/a |