The Mining Play

Other (Non-Mining) Stocks

Thanks Rick. Well HEXO did make a turn today. Will it hold? What is your entry point?

I bought into AGRA at near it’s height…$0.49 was my cost basis. I sold with 40% loss of my investment. Bought back in for half at 0.27, but I figure there is not much point in investing the other half until they get license from Health Canada and can start earning . That is why I asked for a good cannabis stock for the next 4 months. I invested 1/4 of it into AMD. I like it and might keep it there. I am hopeful that fall will be a turnaround for those cannabis stocks that have license and are harvesting. If I can earn back some of my losses in a revenue producing cannabis stock and invest it back into AGRA at, or near the point of my original sale, then I have successfully lowered my cost basis.
I am sure my plan will backfire and I probably should have just kept my money in AGRA. Actually, if I had put all my investment into AMD at the time I put it into AGRA I would be up 40% instead of down. Hah.

The S&P 500 Emini Futures contract (ES) is reaching the 62% retracement level of the climb back to the top from the recent drop. The number is 2932.50. We’ll see if we don’t get another down leg on bad market news in the next day or two, or if we continue the market climb.

Follow up on HEXO, as it turns out that dip from a couple weeks ago off the lower channel support line was the place to buy - it resulted in a 20-25% run. As I mentioned previously, the drop was too precipitous for me and I decided to watch from the sidelines. If there is a pullback back to the lower trend line I’ll probably take a position, though I’m not usually anxious to take positions in August unless it is a screaming buy.

Thanks, HR. You still bullish on AGFAF at these levels I assume?

I’m averaging down here, but I’m not pounding on the table because the overall market and the pot sector are struggling here. AgraFlora has been diluting more than I’d like. In some cases they are building up and expanding the company’s pipeline which I can accept, however they’ve also issued stock options to management and consultants which makes me pump the brakes. It would be different if there were achievements that deserve rewarding like receiving the license from Health Canada or planting their first crop, etc.

So I’m still bullish, but my position is large enough now that I’m not overly compelled to buy more. I did average down some regardless.

My time horizon for holding is over a year so I can wait out the growing pains.

2 Likes