Comments on: MJ Marijuana ETF Swing Trade Idea https://rightsideofthechart.com/mj-marijuana-etf-swing-trade-idea/ Stock Trading, Investing & Market Analysis Fri, 02 Aug 2019 13:56:00 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/mj-marijuana-etf-swing-trade-idea/#comment-6854 Fri, 26 Jul 2019 15:18:39 +0000 https://rightsideofthechart.com/?p=192260#comment-6854 In reply to mproger3.

Yes, I was actually planning to do a video on the pot stocks. I always go through the charts of the components of a sector ETF before considering it as a trade & I did review the charts of the top holdings in MJ.
GWPH is the largest holding with a 9% weighting & that stock just hit & reversed off the 161.65ish support with another big support level 5% below around 153.50.

I also saw several big components either at or near support or poised to break out above downtrend lines such as TLRY & CRON.

]]> By: mproger3 https://rightsideofthechart.com/mj-marijuana-etf-swing-trade-idea/#comment-6853 Fri, 26 Jul 2019 14:14:55 +0000 https://rightsideofthechart.com/?p=192260#comment-6853 Similar to the broad market tech powerhouse, will Canopy and other big stocks in the sector have to break out for this trade to play out? And can you possibly do a MJ sector video soon? Thanks.

]]> By: surerefund https://rightsideofthechart.com/mj-marijuana-etf-swing-trade-idea/#comment-6852 Fri, 26 Jul 2019 14:07:09 +0000 https://rightsideofthechart.com/?p=192260#comment-6852 In reply to rsotc.

Thanks Randy. I bought MJ at $28.58ish and placed limit buy orders at $28.00 and $28.44. MJ pays 2.34% dividends, too.
I agree that you’ve had lots of successful trades on commodities and micro/small cap stocks this year. Enjoy your summer!

]]> By: rsotc https://rightsideofthechart.com/mj-marijuana-etf-swing-trade-idea/#comment-6851 Fri, 26 Jul 2019 13:55:34 +0000 https://rightsideofthechart.com/?p=192260#comment-6851 Best to use either limit orders or order types similar to Interactive Broker’s IBALGO orders, which use an adaptive algo to fish out limit orders in order to get the best fill on stocks & ETFs that trade with a fairly wide spread at times, such as MJ. If using a limit order, one can try splitting the big & ask price and if that order doesn’t execute in a reasonable amount of time, try moving the limit order closer to the ask price.

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