The Universe, week of September 29 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 ||
This week of September 29 incorporates the end of one month, and the beginning of another. It also includes the end of one quarter, and the beginning of the next. These timing influences effect mainstream stocks much more so than marijuana sector stocks.
Except for this quarter.
Last week I introduced the concept of “January Effect” (blog post linked here). We could label it more precisely as the “midnight, December 31 effect,” but that”s kind of clunky. Regardless, it”s all about removing a big group of sellers from the market — taxpayers locking in losses to offset gains made elsewhere or previously in 2014.
NOTE: This is not tax advice. Be sure to show your entire year of transaction history to a tax expert when preparing your returns.
This week I”ll be announcing a webinar (7:30pm ET Thursday evening, October 9) for picking and trading January Effect candidates. Many of these will be in the marijuana sector, but not all. There are some unique factors that only marijuana stocks will encounter, which I”ll describe during the webinar.
Last week”s price action in the marijuana sector seems to have offered us a glimpse of both sides of the midnight, December 31 effect… err, I mean the January Effect. The week began with broad-based pummeling across the sector. Many stocks were testing prices not seen since February. Bounces on Thursday suggested the drops had gotten ahead of themselves.
That”s not new.
What”s new is that Thursday”s bounces were widespread. Even that had almost become routine during the past several months. No, the truly new development was the bounces extended through Friday morning. Widespread, double-digit percentage gainers.
Only one thing in the sector has changed — timing. Of course, time changes every moment, but a new quarter brings a new focus. Did you notice my italicized tax advice disclaimer above? Guess what a lot of people are suddenly prioritizing. And suddenly doing. Selling losers, for no new reason other than a tax reduction strategy.
Most were simply “oversold” bounces. Not sustainable, due to be retraced. There were a few exceptions that I highlighted Thursday on the Activity Feed and during the post-close Livestock Unlimited. But at least last week ended with a “warning shot across the bow.”
Did last year”s bottoms sneak up on you? I wouldn”t expect the same degree again, but stay tuned…
| Marijuana Stock Technical Trader”s Universe for September 29, 2014 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 8 | 8.16% |
| trends* | # flat: | 18 | 18.37% |
| # down: | 72 | 73.47% | |
| *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 | 3.800 | 5.900 | down |
| AGTK | 0.095 | 0.141 | down |
| ANAS | 0.000 | 0.003 | down |
| ANYI | 0.010 | 0.017 | down |
| ARNA | 4.000 | 5.000 | up |
| ATTBF | 0.250 | 0.330 | down |
| AVTC | 1.510 | 1.800 | down |
| BIMI | 0.500 | 1.070 | 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 | flat |
| CBGI | 0.005 | 0.035 | down |
| CBIS | 0.055 | 0.072 | down |
| CHUM | n/a | n/a | down |
| CNAB | 0.680 | 1.425 | 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 | up |
| FITX | 0.045 | 0.061 | down |
| FRTD | n/a | 0.008 | flat |
| FSPM | 0.350 | 0.800 | down |
| FULL | 5.900 | 7.120 | down |
| GBLX | 0.780 | 1.050 | down |
| GRCU | 0.009 | 0.016 | flat |
| GRNH | 0.088 | 0.135 | down |
| GWPH | 77.000 | 87.000 | down |
| HEMP | 0.023 | 0.052 | down |
| ICBU | 0.013 | 0.035 | flat |
| IGRW | 0.000 | 0.017 | down |
| INSY | 33.250 | 39.250 | up |
| ITNS | 0.009 | 0.015 | flat |
| LATF | 0.001 | 0.003 | down |
| LXRP | 0.052 | 0.180 | down |
| MCIG | 0.180 | 0.250 | down |
| MDBX | 8.960 | 12.030 | down |
| MDCN | 0.219 | 1.020 | down |
| MDRM | 0.045 | 0.099 | 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 | 0.078 | 0.150 | down |
| 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 | 0.050 | 0.090 | flat |
| PLPL | 0.245 | 0.366 | flat |
| PMCM | 0.000 | 0.002 | down |
| PRPM | n/a | n/a | flat |
| PZOO | 0.035 | 0.053 | 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 | 0.015 | 0.032 | flat |
| SKTO | n/a | 0.004 | flat |
| SPRWF | 0.270 | 0.370 | up |
| SRNA | 0.750 | 1.760 | down |
| STEV | 0.079 | 0.139 | down |
| TAUG | 0.014 | 0.022 | down |
| TRTC | 0.220 | 0.330 | down |
| TURV | 0.782 | 1.12 | down |
| TWMJF | 2.040 | 2.710 | flat |
| UPOT | 0.250 | 0.800 | down |
| USEI | 0.000 | 0.003 | down |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 1.430 | 2.050 | down |
| VAPR | 0.041 | 0.110 | down |
| VGPR | 0.000 | 0.002 | down |
| VPCO | 1.370 | 2.490 | down |
| VPOR | 0.014 | 0.032 | down |
| VRCI | 0.009 | 0.025 | down |
| XTRM | 0.003 | 0.008 | down |
| ZDPY | n/a | n/a | n/a |