Tilray Inc, as predicted and highlighted on my blog earlier in the morning at 9:55am where I shared that in the short term the stock looked bearish because of profit taking that had took placed started to plummet down 12.20%. Click below link to read my earlier blog post.
http://ronaldkstockmarket.blogspot.com/2018/09/tilray-inc-400-return-stock.html
The retailers were indeed trapped at the high price where the mad frenzy buying had caused some waves of greed to lure investors to think that the stock can trend higher to only now realized that the stock dropped so heavily. The waves of profit taking combined with sellers distributing were also pretty scary as whoever bought at the peak the past 2 days would be sleeping fitfully, thinking he's going to make $$ but to realized that it's time to cut loss. As posted earlier in the morning before the US market started, below was what I said.
"The 5 minute chart currently shows profit taking which I won't buy this stock at the moment where I would look to sell together with the big operator instead. The mad frenzy buy up has trapped some retailers chasing at the high and I will only look to unload now and book profits rather than buying. In the short term, the chart looks bearish to me. I won't be buying this stock.."
US stock is not difficult to trade but rather easy when you can read the volume correctly on what smart money is trying to do. As of how I predicted this sell down, mostly is by reading the volume carefully before making my final judgement. I call for a short this morning, NOT yesterday, NOT Tuesday or last week when the stock was rising. Ponder about my timing and accuracy.
Ronald K - A Game Changer
