TLRY and its peers jump on high federal news catalyst LONG
Updated
TLRY on the 2H sharge shows a draamatic trading response to the DOJ recommending the
reclassification of marijuana. No much to the analysis = these will have momentum until it
fades. I suspect good continuation plays here until mid -day on Friday when profit taking
and sell-offs will dominate. Short sellers will take positions at the tops as well. In the
meanwhile long trades are the low lying fruit.. The risk is a bit lessens by the surge from
the news. Others include SNDL, OGI , ACB and the ETF MJ for those who like to spread risk
across a basket of stocks. For the time being these stocks will be truly buzzed but do not be
late. Stay home if you are.
reclassification of marijuana. No much to the analysis = these will have momentum until it
fades. I suspect good continuation plays here until mid -day on Friday when profit taking
and sell-offs will dominate. Short sellers will take positions at the tops as well. In the
meanwhile long trades are the low lying fruit.. The risk is a bit lessens by the surge from
the news. Others include SNDL, OGI , ACB and the ETF MJ for those who like to spread risk
across a basket of stocks. For the time being these stocks will be truly buzzed but do not be
late. Stay home if you are.
Trade active
75% of the position closed for realized profit at 2.5 while the remainder of the position has faded. Holding for an unlikely second leg up.Note
Sideways and patient.Trade active
till holding and targeting 2.50 for a partial profit taking.
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