Underline8

The markets were generally quiet on Friday, with a suspect drop at the end of the day. The market looks poised to continue grinding higher, and I’m not going to try to fight it. Unless it pulls back on volume and breaks below 291, I will assume that the probabilities are for higher prices.

I haven’t been following the news closely to be able to come up with any rationale for the market to keep going higher.

There is something about the way this recent rally has moved that doesn’t seem right to me and it has made it difficult for me to ride my longs with much conviction.

Marijuana Stocks

These have been pretty shitty lately, but a lot of the Canadian LP’s had an interesting recovery throughout the day, except for Canopy (CGC). There has been zero follow through on any of the up days in MJ stocks lately, so I will be treading carefully around this.

The Canadian roll-out of Marijuana has been disappointing and so have the sales. The growth in the sales have been slow, especially with Ontario and BC dragging their feet.

Charts

APHA
BYND – I’m still targeting the 20 MA right now.
GOOGL: I’m bullish on GOOGL on but I see resistance at 1160.
SAP.TO – This looks like it its going to take another hit. I wanted to pick some of this up for my long term dividend portfolio. I might pick some up here on the next drop.

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