Todays close was just under the SMA50 with resista
Post# of 56323
Posted On: 06/19/2014 1:04:30 AM
Todays close was just under the SMA50 with resistance at both the SMA100, SMA20, and SMA100, MACD showing MMs stirring the pot at the end of the day (no pun intended) as shares at new (recent) lows were quickly bought up. We may see more stirring the pot tomorrow as MM's again start selling blocks of shares to test retail buying strength. We may still see a buying opportunity at just over the SMA200 which currently includes trendline support at .0415.
Personally, I am placing a GTC Limit order at .0425 and will monitor price action to adjust if needed (on significant news/volume). If price action does cause PPS to drop close to the SMA200 expect a bounce to .0557
If licensing does not occur within 30-45 days then next support level is .031 (I think this is possible, but unlikely to occur and will only happen if MM's decide to sell of large blocks of formerly restricted shares pre-license. This seems unlikely (at present) because .055 - .06 currently seems to be a baseline targeted liquidity range for MM's/Insiders but watch for large block sales just in case.
Ultimately,IMO this stock will be huge, the best strategy is to buy as low as possible then sell a percentage after license taking in some profits but keep a core holding (in case of a run up) and be prepared to continue accumulating when you see large blocks being sold by MM's.
Repeat process....
Just my opinions and personal strategy here. I also "value buy" other stocks mostly because the license itself will become highly valuable as time goes by. For companies that do hold a license , the issuing party (HC) will become more bogged down, have more stringent guidelines, more regulations, etc and ultimately issue fewer and fewer licenses.
As time goes on bigger players will wait for favorable regulations then will desperately want a license and be willing to pay to get it. Just the way licensing tends to works and especially with a high profit, fast turnover, renewable cash crop in a multi-billion sector.
It's going to happen. There is just to much money involved to keep companies like Phillip Morris and others out of the mmj business.
Personally, I am placing a GTC Limit order at .0425 and will monitor price action to adjust if needed (on significant news/volume). If price action does cause PPS to drop close to the SMA200 expect a bounce to .0557
If licensing does not occur within 30-45 days then next support level is .031 (I think this is possible, but unlikely to occur and will only happen if MM's decide to sell of large blocks of formerly restricted shares pre-license. This seems unlikely (at present) because .055 - .06 currently seems to be a baseline targeted liquidity range for MM's/Insiders but watch for large block sales just in case.
Ultimately,IMO this stock will be huge, the best strategy is to buy as low as possible then sell a percentage after license taking in some profits but keep a core holding (in case of a run up) and be prepared to continue accumulating when you see large blocks being sold by MM's.
Repeat process....
Just my opinions and personal strategy here. I also "value buy" other stocks mostly because the license itself will become highly valuable as time goes by. For companies that do hold a license , the issuing party (HC) will become more bogged down, have more stringent guidelines, more regulations, etc and ultimately issue fewer and fewer licenses.
As time goes on bigger players will wait for favorable regulations then will desperately want a license and be willing to pay to get it. Just the way licensing tends to works and especially with a high profit, fast turnover, renewable cash crop in a multi-billion sector.
It's going to happen. There is just to much money involved to keep companies like Phillip Morris and others out of the mmj business.
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