Good Morning Valhalla 3.30.22


News: Weed legalization hearings are happening in the House today. They will probably are a nothing burger like all the past legalization attempts have been, but this doesn’t mean weed stocks won’t move. If you are a doomer that has no hope for the future buy puts, if you are a bloomer that has been deluded into hopium then buy calls.

Ukraine and Russia seem closer than ever to peace talks but all it takes is Putin going “lol no” and it’s off. I haven’t seen enough to believe Russia is done with this yet, atleast not by choice. Expect war to continue as long as Russia can field a military.

Daily Watchlist:
AMC and GME, they slowed down yesterday while staying volatile. I’ve gone over how I think this should be played in trading floor and on yesterdays post. Don’t play for the moon, play for nice and easy gains. Keep it simple and careful.

Weed, CGC TLRY and others could make huge moves over the next few days for the reasons I stated in the news. You know they ain’t gonna legalize it, but still have to ask what if. Biden is taking the do nothing position, he won’t veto a bill if it gets passed but he won’t legalize it himself (which he can do). Bidens position is like that of many other politicians on both sides, they know the country wants it but there’s still hold outs that are very concerned about legalization and it would mean admitting decades of idiocy and failure on the part of those politicians. But there is a midterm this year and the Dems hold the House and Senate, if it is going to be done in the foreseeable future it has to be done now and maybe that legalization chant can be taken into the campaign trail as evidence of a win. We’ll see what happens, whatever does happen tho it won’t affect us because we only use cocaine and masturbation for stimulation.

SPY: Yesterday went exactly as expected, volume poured in and the dips got bought up. We are continuing that trend off the double bottom. We are likely on the last day or two of that trend tho because we’ve hit the previous level before dumping so start looking for spots for taking profits if you had mid term spy positions and want to lock it in. Should have support at mid 459


I think a minor clarification may be needed.

Weed is going to be voted on for it to be de-criminalized. There is a difference between decriminalization vs legalization.

Under de-criminalization, yes you wouldn’t get hit with a criminal offense but you could still be hit with a civil offense and other penalties.

For folks hopeful, it does open the doors for potential legalization in the future if this does pass. The bill has a section where a study is ordered to look into the impact of legalization.

Still a catalyst for the weed stocks in reaction to how it goes. I never smoke but I have lived in NC which decriminalized it and TN which hasn’t and there is a noticeable difference. One thing that might be possible is states being free to make their own tighter restrictions but I doubt we see that, we’ve only seen loosening lately even in southern states.

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