No proverb from me guys, Midas please chime in when you are up and about, I value your thought provoking daily.
I Just read this AM yesterdays later posts and wanted to add my 2 cents.
Marijuana is classified as a class I drug in the controlled substance act, along with heroine with NO THERAPEUTIC value by the federal govt. There is a bill in congress with 14 sponsors to change that. it may not get into or out of committe for a vote this year, but eventually a bill will in my opinion.
Eric Holder, the Attorney General, is "about" to make a statement on how the feds will handle the states rebellion in this matter. I think 34 states allow medical marijuana use and 2 recreational (CO and WA).
When Holder speaks he will drive the green stocks one way or the other, I know what I am hoping he says.
The Feds have serious money issues, and to legalize, regulate, and tax Med Mar rather than spend money fighting drug wars is looking very sensible, to the 2/3 majority of states, and to more and more congressman. I believe Obama has made statements like "we have bigger fish to fry" in reference to the States Med Mar rulings.
Regarding the big pharm, tobacco and booze companies; if their is money to be made it is business I see them getting involved in. They can build from the ground up, or they can also buy out existing players. I see many of the current players as buyout targets as a result.
I made a lot of dollars getting in and out of the big pops in early and mid February and I have been dip buying every 10 days or so and accumulating, quite in the red for my current position but hopefully a new pop will happen, if not I harvest some losses to offset my previous gains and overall am stil up quite a bit overall. BUT if it pops again it will be substantial. I think Holder's statement will be the key to the short term trend, accelerating the decline, or reversing it.