Still Cautious
Seven weeks ago I started recommending selling marijuana stocks and taking profits, saying that they’d gone too high and that investment sentiment seemed equally high as well (a bad thing). Since then, the Marijuana Index is down 10% and the Alternative Harvest is...
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Officially, Cabot’s trend-following indicators now tell us that the intermediate-term trend of the market is down—and this means it’s prudent to increase your cash position, while leaning toward caution in new investments.
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Back on August 13, when the broad market was strong and marijuana stocks were even stronger, I took partial profits in our four strongest stocks (which were also our four largest positions) because they looked very extended to the upside.
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Technically, the market is now in an intermediate-term downtrend, which tells us that additional defensive measures would be prudent. In the very short term, however, I expect a bounce from today’s high-profile decline, so I’m mainly holding.
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There hasn’t been any real news about our stocks in the past week, but I’ve been watching the charts carefully, trying to decide whether it’s time to put some of our 35% cash back into the market, or to take more out, or simply...
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Overall, our market-timing indicators remain bullish, and thus the prescription for investing success is to maintain a diversified portfolio of healthy stocks.
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Fundamentally, the only recent news regarding the marijuana industry is that the U.S. House of Representatives will vote on the MORE Act, which would deschedule marijuana and thereby legalize it federally, the week of September 21. Passage is likely. Getting through the Senate not.
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Overall, our market-timing indicators remain bullish, and thus the prescription for investing success is to maintain a diversified portfolio of healthy stocks.
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Three weeks ago, when the marijuana sector seemed extremely extended to the upside, we sold 25% of each of the positions in our four U.S. multi-state operators
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The bull market remains in full force, even as various signs (sentiment and charts) caution that a correction is increasingly likely.
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A Little Cautious
The good news is that our portfolio is well in the black for the year, thanks to strong performances by all four of our U.S. multi-state operators, our REIT (IIPR) and our hydroponics retailer (GRWG). (Readers who held GRWG before second-quarter were...
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The market’s strength has been very impressive, and our market-timing indicators continue to tell us that the market will be higher in the months ahead.
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The broad market continues to look very healthy, with good breadth that suggests the ultimate end of this bull run is still months away.
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One of the market truisms that I learned long ago concerns selling stocks near the end of a strong run-up—and because the odds are growing stronger that we’re nearing such a situation now, I bring it up today.
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Despite a few cracks in growth stocks in the last couple trading days, the overall stock market continues to hum along, with the S&P 500 a mere 1% below all-time highs as of this writing.
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Over the past week, marijuana stocks have been particularly strong, with the strongest being the four leading U.S. multi-state operators that we own—and that means it’s time for another brief update on strategy.
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The market’s main trend remains up, and thus our goal continues to be maintaining a full and diversified portfolio of high-potential stocks.
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Back in the Black
The broad market is strong, but the marijuana sector is even stronger, with six of our stocks hitting new recovery highs this week, and another hitting an all-time high last week!
The reasons for this strength are numerous.
First, after a two-year market...
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The market is strong, our portfolio is full, and the prospects for the months ahead look good. Thus I continue to recommend that you be heavily invested in stocks that help you meet your investing goals.
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The strength in marijuana stocks that began two weeks ago with breakouts by the stocks of the four leading U.S. providers has continued this week, so now I’m going to take the portfolio to a fully invested position.
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