8:45 Morning Meeting Notes
Risk Monitor GREEN/IBD GREEN [Market Rally]
armrSPY Swing GREEN [RSP GREEN]
armrQQQ Swing GREEN [QQQE GREEN]
Risk Monitor [Market] commentary: Shake out yesterday morning reverses as the battle between new highs & the Stop intensifies
Every new risk on entry point has the potential to be the end of a move higher and start of a reversal in trend
If a new risk on fails it usually will in the 1st week of the signal
An equal amount of buy triggers will challenge the Stop next day as will gap higher
Yesterday was one such challenge. And the Bulls answered the bell
As always the weekly close will hold the key
Still holding some cash for confirmation of direction & used the shaking yesterday to focus the ARMR Portfolios
Doubled Uranium holdings adding to URNM and this morning…
Kazatomprom, the largest uranium producer will fall short of production targets, according to Bloomberg (29.39 )
Added NFLX Leaps to the NVDA META MSFT positions and this morning…
Netflix target raised to $600 at Oppenheimer — Advertising MAU acceleration suggests significant upside to ’24 Street ests (492.23)
TSLA in trouble & I’m wondering about the ripple effects on ARKK etc & other Hateful 8 positions
Hertz reducing its EV fleet [dumping 30,000ish cars on used market] because of high repair costs compared to the rest of the fleet
armrAnalyst, @SIlverFox, writes, “TSLA $228…triple top…very few stocks survive this pattern. Particularly after a long uptrend.”
Escalating violence in the Mid East with US coalition attacks finally commencing has created ripples in the commodity sector
Oil higher by over 2.5%
Gold & Silver up over 1%
We are only Long PHYS but will review the positions to see if any other action is required
Cannabis gets a boost from this story, “Feds Will Release Marijuana Rescheduling Memo And Related Documents ‘In Their Entirety’ In Response To Lawsuit”. The big reveal is expected to bring clarity to government thinking on the reschedule topic.
Long MSOS & looking again at IIPR [7.7% div yield]
IIPR continues to lead the entire space as it trades above Sept. 2023 highs while the rest of the group consolidates below.
IIPR is the quick easy way for any portfolio at any brokerage firm to gain access to Cannabis investments opportunity & leadership strength here suggests real money is coming in.
Highlighted Action: With the Kazatomprom news let’s look at the URNM chart. We doubled this position yesterday and the price action, complete with gap up today, is worth the proverbial 1000 words. The only question I ask myself this morning is, “do I have enough Uranium exposure in the portfolio”
ARMR Portfolios: Focusing on Leaders
Removed LABU BIB URNJ TNA UWM & TSLA Leaps
Added to SSO QLD URNM
Added NFLX Leaps & MSOS
Top Shelf: SOXL IOT PATH PSTG PLTR
ARMR Research
Back in 2020, the last time we all made a lot of money investing in Cannabis, we began that journey with a position in IIPR. In fact, I wrote a rather long missive about the merits of the investments and dedicated an entire YT video to the topic stating that IIPR would be the single best way to play the cannabis theme. In the end, on a total return basis this thesis proved out as the stock price skyrocketed and the dividends flowed. As with all our Cannabis investments we got Stopped out and exited as the collapse began. Now, as it appears we are on the cusp of a new run based on real reform, I say again IIPR will be a solid and perhaps once again best way to play the investment theme.
The management team is great and has proven the ability to navigate thru very difficult times
Stock trades on a major US exchange with volume allowing any and all cannabis investors access to the theme immediately
This is a real estate investment and as such the risks are less then a pure US producer but the rewards high when the group runs
7.7% dividend yield & managed well thru several tenant lease issues during the down cycle
DISCLAIMER: All of ARMRreport, our trades, strategies, and news coverage are based on our opinions alone and are only for educational purposes. You should not take any of this information as guidance for buying or selling any type of investment or security. I am only sharing my biased opinion based off of speculation and personal experience. An individual trader’s/investor’s results may not be typical and may vary from person to person. It is important to keep in mind that there are risks associated with investing in the stock market and that one can lose all of their investment. Thus, trades/investments should not be based on the opinions of others but by your own research and due diligence.
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