With a heavy down day in the market, the precious metals miners have perked up as usual. So about 75% of todays watchlist is precious metals, and then some SPACs and few others. One stock had volume of 574million today. So that's not Aunt Sally buying as they say.
For the watchlist from Mondays scans - AEM, AGI, ALAC, AU, AUY, BNGO, BTG, CRIS, EGO, GFI, HMY, IPV, KGC, KL, LAC, NGA, NIO, PAAS, VRAY, WKHS, WPM
Cannabis Stocks Back in Stage 2. Big Industry Group Theme for 2021
A big part of Stan Weinstein's Stage Analysis method is called the Forest to the Trees method. Where you use a top down approach to find the strongest sector / group themes when the market is in a Stage 2 advancing phase, where big money is flowing into the groups stocks and multiple stocks within the group are breaking out into Stage 2 from large Stage 1 bases. You then drill down into the group and find the strongest stocks in order to participate in the group strength.
At the start of each year I like to look at where the initial money is flowing once the institutional traders return from their end of year breaks, and this year I can see a strong group theme developing in the Cannabis stocks once more, with multiple early Stage 2A breakouts and continuation breakouts on strong volume recently from big Stage 1 bases, and multiple other stocks in the group setting up in the later part of Stage 1.
Money is entering the group, and multiple stocks are setting up. So it could be a strong theme for 2021 imo.
Below is some of the major charts marked up, and the further down is the group weekly thumbnail charts, so you can see the broader picture including the best OTC stocks, which have been very strong through the end of 2020.
Cannabis Group Thumbnail Charts
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
RE: Cannabis Stocks Back in Stage 2. Big Industry Group Theme for 2021
(2021-01-09, 06:47 PM)isatrader Wrote: Below is some of the major charts marked up, and the further down is the group weekly thumbnail charts, so you can see the broader picture including the best OTC stocks, which have been very strong through the end of 2020.
