Cabot Marijuana Investor Update
Not a lot has changed since last week’s issue—overall, the cannabis sector remains in a correction—but there are a few stocks worthy of an update.
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technical analysis of stocks
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technical analysis of stocks Archives
Cabot Marijuana Investor Update
Yesterday, the House Judiciary Committee approved the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act), which has Democratic Presidential candidate and former prosecutor Kamala Harris as one of its sponsors.
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Cabot Marijuana Investor Update
I’m making four changes to the portfolio today.
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Cabot Marijuana Investor Update
It’s been a tough few months for cannabis investors, but no downtrend lasts forever, and yesterday’s blast-off by Aphria (APHA), which sparked buying across the sector, is a sign that the worst has almost certainly passed.
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Cabot Marijuana Investor Update
Yesterday was the worst day of the year for cannabis stocks, with HEXO (no longer in our portfolio) leading the way down with a plunge of 22.5% after the company announced that revenue for the fiscal fourth quarter, ended July, would be $14.5 $16.5...
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Cabot Marijuana Investor Update
The cannabis sector has been trending down since the end of March, giving back its spectacular gains from the start of the year, and until now I’ve remained optimistic about our stocks, partially because of their outstanding fundamental growth metrics but also because two...
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Cabot Marijuana Investor Update
In the broad market, all is well, as all trend-following indicators are positive, and the number of stocks hitting new lows has been minuscule in recent days.
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Cabot Marijuana Investor Update
One major factor in investing, particularly in small stocks and young sectors where growing pains are still the norm, is sentiment. Good sentiment can take a sector to extreme highs—as it has done for the marijuana sector at every major legalization milepost.
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Cabot Marijuana Investor Update
As summer morphs into fall and Wall Street returns to full operation, I’m seeing some welcome signs of buying in the cannabis sector. So today we’ll join them, by averaging up in two of our holdings.
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Cabot Marijuana Investor Update
Yesterday’s strong market triggered a technical indicator, a follow-through signal that tells us buyers are lurking. Of course, today’s big decline so far isn’t good to see, but nevertheless, this and other measures (awful sentiment, etc.) tell us there should be support on weakness.
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Cabot Marijuana Investor Update
The good news is that many cannabis companies have been releasing their second quarter reports and the results have been excellent.
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Cabot Marijuana Investor Update
The cannabis sector is still in correction mode ... looking for a bottom somewhere.
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Cabot Marijuana Investor Update
While long-term prospects for the cannabis industry remain excellent, the sector as a whole remains in correction mode today, with the big Canadian stocks under the greatest pressure—and no one knows where the bottom is, though history tells us it will come when last...
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Cabot Marijuana Investor Update
The broad market is in fine shape, with most major indexes at or near their highs and all Cabot’s market-timing indicators bullish.
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Cabot Marijuana Investor Update
The marijuana sector’s charts have been weak overall since the sector’s March top.
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Cabot Marijuana Investor Update
Many of our stocks seem stuck in the mud—not bad, but not blasting off like some of the market’s leading stocks. Also, looking at the Marijuana Index, we see that it’s now come back down to where it was in mid-January.
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Cabot Marijuana Investor Update
The market has been up for six straight days, marijuana stocks look good, overall, and while we don’t quite have a buy signal from our intermediate-term trend-following indicator, we are very close. Today we are averaging up in three stocks.
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Cabot Marijuana Investor Update
The broad market has advanced nicely since mid-day Monday when news that the Fed might lower interest rates sparked a wave of buying. Long-term, the future is bright. But short-term, the portfolio is happy holding a cash level of 23%, deferring new buying.
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Cabot Marijuana Investor Update
The market’s larger, longer-term trend remains up, and the odds are that the market will be higher later this year. But short-term, the market remains in a correction, and marijuana stocks, as a whole, are not fighting the trend.
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Cabot Marijuana Investor Update
Investing in up markets is easy. From the December low until recently, the strong market provided a huge tailwind that sent marijuana stocks soaring—and had our portfolio, at the peak, up 57.2% year-to-date.
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