With a 79% profit-take on the remaining shares of CVSI (after a minor loss taken on GWPH yesterday) I am now out of this over valued sector… man.
I think CVSI has a solid future as long as CBD Oil is not proven to be quackery, which people I know in real life swear is not the case. I think they’ll get a Nasdaq listing and continue with profitable operations, but this is a funny sector in a funny market.
Thing 1 (funny sector) has been running on hype and this year’s crop of shall we say inexperienced investors (Pot) are last year’s crop of inexperienced investors (Bitcoin).*
Thing 2 (funny market) has a case to go higher, but the other case is alive, well and pending short-term bounce potential, taking the lead with internals fading.
* “Investors” in this case meaning momo-hopped kids who’ve never been through a real market correction, let alone a bear market. Man, I sound even older than I am.
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