DAVE’S POT STOCK PICKS,

For the week of January 16, 2018,

 Stock ticker: APHQF
Buy at (or slightly above): 15.1898
Target price to take profits: 16.5569
Stop-loss: 14.4303

Stock ticker: MSRT
Buy at (or slightly above): 0.6717
Target price to take profits: 0.7322
Stop-loss: 0.6381

Stock ticker: GRSO
Buy at (or slightly above): 0.0398
Target price to take profits: 0.0434
Stop-loss: 0.0378

Stock ticker: SRNA
Buy at (or slightly above): 0.3043
Target price to take profits: 0.3317
Stop-loss: 0.2891

Stock ticker: MEDF
Buy at (or slightly above): 18.8565
Target price to take profits: 20.5536
Stop-loss: 17.9137

Stock ticker: TGIFF
Buy at (or slightly above): 0.7808
Target price to take profits: 0.8511
Stop-loss: 0.7419

Stock ticker: PURA
Buy at (or slightly above): 0.0608
Target price to take profits: 0.0663
Stop-loss: 0.0579

Stock ticker: XXII
Buy at (or slightly above): 3.51
Target price to take profits: 3.83
Stop-loss: 3.33

Stock ticker: CARA
Buy at (or slightly above): 13.32
Target price to take profits: 14.52
Stop-loss: 12.65

Stock ticker: MJNA
Buy at (or slightly above): 0.129
Target price to take profits: 0.141
Stop-loss: 0.123

 

About these stock picks – and how I use them

David combines research into company fundamentals, technical analysis, and years of actual trading experience to identify his favorite stocks as well as entry and exit points.

There are no pump-and-dump scams here. I am NOT being compensated by any of these companies.
How I use the stock picks:

“Buy at (or slightly above)”: I don’t buy until a stock reaches my “buy at” price (or goes slightly above it). If the stock doesn’t reach that price, no big deal — I just won’t buy it yet. I let the trade come to me — I don’t force a trade.

I included the words “or slightly above” because sometimes it’s hard to catch it exactly at the buy price that I want. So, I feel that it’s okay to buy as long as it’s very close to the price I want.

“Target price to take profits”: This is a price that is above the price at which I bought a stock. If the stock reaches this target price, I will sell the stock.

“Stop-loss”: This is a price that is below the price at which I bought a stock. If the stock goes down to the stop-loss price, I will sell the stock. Unfortunately that means taking a loss, but at least I’m cutting my loss instead of letting it get worse.

After placing a buy order, I don’t sell until the price of the stock either goes up to my profit target price or goes down to my stop-loss price.  I place these two sell orders with my broker (one sell order at my “target price” and another sell order at my “stop-loss” price) immediately after placing the buy order with my broker.  Of course, even though I will place two sell orders, only one of the two sell orders will actually be executed — the price of the stock will either go all the way up or all the way down, not both. (Please note that stop-loss orders are not perfect, and it is possible for the price of a stock to go below your stop-loss price, especially if you’re holding the stock overnight. If I am day trading or if I am concerned about a drastic overnight move in the price of the stock, then I may choose to close my position at the end of the trading day.)

I always use stop-loss orders when trading stocks, and I never trade with money that I can’t afford to lose. Capital preservation is my most important objective.

And yes, it is possible to use trailing stops to move a stop-loss upwards if the stock price goes up…. but I do not ever move my stop-loss orders down.

The low-cost brokers that I like for trading marijuana stocks (I get asked about that a lot) are TradeStation, Merrill Edge, Interactive Brokers, Just2Trade, SpeedTrader, Ally, and eOption. However, there is nothing wrong with using other brokers such as E*Trade, TD Ameritrade, etc., though these might be more expensive in terms of commission costs.

Quick tip: Did you know that some online brokers offer a free “paper trading” account that you can use to practice your stock trades without risking real money? They give you fake money to make pretend trades with, and you can practice your stock trading skills before committing real capital to your trades. Some brokers that currently offer paper trading accounts include TradeStation, Interactive Brokers, TD Ameritrade, and OptionsXpress by Charles Schwab.

 

Beware of marijuana stock pump-and-dump scams! Some newsletters, message boards, and chat rooms will promote or “pump” a stock, claiming that it will make “massive gains” or go up 1000%, etc. The pumpers already bought millions of shares of the stock, and they want people to buy the stock now because that will make the stock price go up. Then the pumpers will sell or “dump” their millions of shares, profiting and laughing all the way to the bank. Then the stock price goes down, all of the unsuspecting people who bought the stock panic and sell their shares, and the stock price goes down even more. The victims of the classic pump-and-dump scheme are left “holding the bag.” Don’t be a victim!

You will never see me promising “sky-high profits” or pumping any stock. If you do Google research on a stock and all you see are newsletters, message boards, and chat rooms pumping the stock and promising massive profits…. and you don’t see any credible news reports or press releases about that stock….. beware! It might be a pump-and-dump!