I hope everyone is having a good night. I just got back from dinner with my woman, which was delicious! Today I was just watching the market all day since I didn’t have anymore day trades. I closed out my UPL position first thing as it was dropping when the market opened. That mistake could have cost me much more so I’m glad I got out with only an $80 loss. I liked the chart on TRTC in the late afternoon as it was attempting, and briefly did break out above the $0.40 resistance. There was some resistance there at $0.42 from last week as well so I bought at $0.398 with the hope of this breaking out past both those levels tomorrow and running. I also bought some CBIS (Both small positions) right before the closing bell at $0.0183 as it was holding multi-day support. I’m hoping this bounces off this level like UPL did and get back to the $0.024ish levels. With the DEA set to announce whether or not they’ll reschedule marijuana in the next few months, there may be some people buying into hype with the anticipation of good news. This is definitely a sector to watch over the next few months. Here’s what else I’ll be watching tomorrow for any potential holds over the weekend.

 

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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.

 

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.

 

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.

 

 

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