Tilray Inc Bear Market Review

Nothing that has happened in the “Marijuana Industry” is any real surprise.

I came across this story which I  agree with, Why Investing in Marijuana Stocks is a Dumb Idea.

Someone bought TLRY at $300 as it went vertical so what did he see in TLRY at that price level?  I bet the guy was stoned when he clicked his mouse on the “Buy” button!

10 months or so later TLRY crashed from $300 to about $28!  How is buy and hold working for TLRY investors? All this is great in hindsight but we have seen these types of moves before with other pot stocks.

Anyways I just posted this for entertainment as this TLRY stock has a lot more room to fall and it may even flat line well below the starting price of $20!

You never know, but TLRY could be a different story by the time solar cycle 25 arrives in full force.

 

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GLD Gold ETF Update

GLD is a very popular GOLD related ETF and it tracks the gold futures very well.  At this time GLD was close to $144 which is a Fibonacci number.  I looked over many other gold-related wave counts and after about 20-30 I was getting bored as they all looked the same.

The $2000 gold price forecast has become popular again followed by a $5000 gold price forecast. I’m sure we will hear more insane gold price forecasts as this bullish phase matures. $10,000 gold price forecasts can be seen in the tabloids if you look hard enough. They have been forecasting a $2000 gold price since the ’70s which has never been achieved.

There is a real good chance that gold and GLD are in a bear market rally while others do not only a few have the same “A” wave bottom as my wave count.

The bullish phase is not over as I believe 5 waves still have to develop and until they do I will remain bullish.

At this time the 5th wave could be the shortest out of the three waves. Any 4th wave could take 2-3 months to correct so that should drive the gold bulls nuts for a little while.

At this time I doubt that the entire run may finish this year as it could carry on until spring 2020.

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