Happy Friday everyone! Today was relatively slow for me as I didn’t have anymore day trades left and my positions in TRTC and CBIS were as good as turtles today. I decided to hold both over the weekend as they were actually holding up nicely all day after small dips. I’m hoping Monday we get an industry pop with anticipation of good news from the DEA. I know they probably wont reschedule the drug for another couple months, but there will always be people that buy on the potential news. Other than that there wasn’t much I saw worth getting into and holding over the weekend so I sat on my hands and watched. Here’s how my watch list looked today and stay tuned for my video lesson Sunday where I’ll be showing how I build my watch list every night!

 

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#Hammertime

 

TRTC – This attempted to breakout from $0.40 resistance several times today and towards the close it actually did breakout for a second. I got in at $0.398 with the hope this breaks out above $0.40 and $0.42 tomorrow and really starts running. If it fails to breakout, it could drop, but with the news of getting their business license in place and them opening their shop 4/20, we may see this keep going higher. We’ll see how everything plays out in the morning. After dropping in the morning and holding above my risk level, this actually rebounded nicely and held up into the close. Not a lot of volume today but I decided to hold this over the weekend. I’m hoping for the MJ sector to gap up Monday with potential good news regarding the DEA rescheduling the drug. It could take up to several months before they make a decision but as I’ve said earlier, people may buy just into the hype, especially if these start to move at all. This is right near resistance and if we can just get a little more volume to push this through $0.40 and $0.42, look out above!

 

CBIS – I got in this right at the closing bell as this was holding up $0.0180ish multi-day support. My hope here is for this to bounce and retest those $0.024-$0.025 levels. I went back in recent years and looked at a lot of the MJ stocks around the “4/20 holiday” and none of them really perform well. Most have actually seen big losses so I’m not using that as a catalyst. I do think with the DEA announcing in the next few months whether or not they’re going to reschedule the “drug”, that we can see a lot of people anticipating good news and buying up these pot stocks like they did a few years ago. Similar play for me to my recent UPL trade and I’m hoping we get a bounce like we did there. This held up support again today and actually closed just below $0.02. I can really see this moving past $0.02 and back up to the $0.025 range by next week so I’m holding this over the weekend. Not a lot of volume here today so hopefully we get some sort of catalyst over the weekend to get this going. This has been getting pumped hard on Twitter as well for the past few weeks so I’ll look to make sure that’s holding up over the weekend as well.

 

VKTX – Big % gainer spiking over $2.75 several times today. There seems to be some resistance at that $2.75ish level, but it still closed up 35% on the day. I’m pretty sure this thing continues to fade tomorrow morning but I can see it really spiking if it can breakout above $2.25ish. Unfortunately, I don’t have anymore day trades, so I’ll just be a spectator tomorrow. Should be a decent mover though. Man I wasn’t expecting this to crash so hard this morning! After seeing this on Grittani’s watch list last night, I knew this would definitely be a good shorting opportunity rather than a long. I just didn’t expect to see it crash so hard so quickly. After the crash, there was a small bounce and then it held that level all day into the close. No play for me now going forward here.

 

 

Also on radar: UA, AVXL, VLTC, AQXP, TGD