Recent days have seen substantial selling pressures in the broad market, with growth stocks being particularly hard hit. But the good news is that stocks in the marijuana sector, which had previously corrected 50% from their February peak to their bottom in late or...
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With the Dow hitting another new high but the growth-focused Nasdaq Composite still unable to get above its February peak, we remain in a bull market that is challenging for growth investors; in fact, many recent great earnings reports have been met with instead...
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The big news in the marijuana industry this week is that the Tilray/Aphria merger is complete, turning these two Canadian firms into the biggest marijuana company in the world—for now.
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With the S&P 500 and Nasdaq Composite hitting new highs just last week, there’s no question that we remain in a bull market, and thus there’s no question that we should remain heavily invested.
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Time For A Little More Buying
One of the many adages about investing in stocks says, “Never sell a dull market short.” The theory, basically, is that if the market isn’t going up or down, it’s likely to go up, given that that’s the trend...
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The bull market is alive and well, though divergences and rotation continue to add a challenge to the process of identifying the market’s leaders.
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Today, for a change, I’ll cover the news first, and the investing advice second. In Illinois, marijuana taxes exceeded alcohol taxes in the first three months of 2021. Marijuana tax revenue amounted to $86,537,000 while alcohol taxes brought in $72,281,000. I expect the to...
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The bull market rolls on—but it’s not a perfect bull market. In fact, it’s showing signs of age, with divergences and rotations that alternately reward and retard various sectors from time to time.
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Nine weeks ago, as the marijuana sector was completing what looked like a climax top, I took the risky step of taking partial profits in ten of our stocks, moving to a 45% cash position.
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The leading indexes continue to hit record highs, telling us the bull market that began over a year ago, though it is showing some signs of age, remains intact.
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A quick look through the major marijuana stocks leads to an unsurprising conclusion: the sector remains in a correction.
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The bull market is still intact, but the signs of fraying that often emerge during long topping actions continue. Still, by focusing on the right stocks, we can do well.
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Waiting for a Buying Opportunity
Let’s start with the good news this week.
Fourth quarter results are in for all but one of our companies (Jushi) and they were terrific, showing average revenue growth from the year before of 167%—a number that would be even without...
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The market divergence that has been evolving since early February continues, with the Nasdaq in particular looking weak while the more conservative indexes like the S&P 500 remain near their highs.
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The marijuana sector, in general, remains in a correction. The high for the sector was six weeks ago, while the most recent bottom was two and a half weeks ago.
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While leading growth stocks have been hit hard (and some have rebounded), the major indexes remain in uptrends and cyclical stocks and “reopening” stocks have attracted new buyers.
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The good news is that one of our stocks, Trulieve (TCNNF), closed at a record high yesterday. The bad news is that none of our other stocks did. The sector as a whole remains in the moderate correction that began five weeks ago, and continue...
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The broad market remains in a diverging pattern, so there’s still a very good chance that a long-term market top is being formed.
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The Dow hit a new high today, but marijuana stocks didn’t; their correction, which was richly deserved, is now one month old. And the fact is this correction is likely to run further, mainly because the broad market still needs a correction.
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My quest to add some growthy stocks with a cyclical dimension and downside protection brings us to our latest recommendation.
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