Shared by
beno
Fundamentals
N/a
Catalysts / News / Painting the picture
-May 14 2020: Earnings - Net rev up 15% Q/Y - Weed sector strong compared to SPY
-May 21 2020: NY Post - Scientists believe cannabis could help prevent and treat coronavirus
-Sep 22 2020: Reporting earnings tonight
-Nov 06 2020: Sympathy from Joe Biden as potential president
-Nov 27 2020: Federal Marijuana Legalization Bill Will Get A Congressional Vote Next Week
-Dec 04 2020: House voted to pass marijuana legalization bill
Technical Analysis
-SPY pattern: Bull Flag
-Intraday pattern: Rug Pull
-Other notes: N/a
Strategy / Confluence / Sizing Guide / Risk
Strategy: Ext. Cap. long near $11 whole
Confluence: Whole $
Strike Zone: 11 - 10.5
Sizing (lots + emergency): 750
Risk (stop / Rs): Below 10 (had bullets left)
Review / Lessons Learned
Only +1R here but definitely left some on the table for not adding at the lows, this was A+ Extension
Lessons Learned: On Ext. Cap. setups, when the tape is at its weakest in the extension and the buying starts, that's when you long.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-12-04 13:19:34 | ACB | buy | $11.060 | long |
| 2020-12-04 13:19:49 | ACB | buy | $10.920 | long |
| 2020-12-04 13:19:49 | ACB | buy | $10.930 | long |
| 2020-12-04 13:19:49 | ACB | buy | $10.930 | long |
| 2020-12-04 13:20:25 | ACB | sell | $11.020 | long |
| 2020-12-04 13:20:25 | ACB | sell | $11.020 | long |
| 2020-12-04 13:20:25 | ACB | sell | $11.020 | long |
| 2020-12-04 13:20:29 | ACB | sell | $11.030 | long |
| 2020-12-04 13:20:29 | ACB | sell | $11.030 | long |
| 2020-12-04 13:20:53 | ACB | sell | $11.090 | long |
| 2020-12-04 13:20:57 | ACB | sell | $11.080 | long |
| 2020-12-04 13:20:58 | ACB | sell | $11.085 | 0 |
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